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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: Many services charge prices that do not scale linearly with usage. This is because the service provider has fi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: Some proportion of the costs of a policy have little to no relationship to miles driven. Think of costs of und...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: Other people lie to the companies about how many miles they drive, so they can't take the mileage figures liter...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: First you have to understand that insurance is basically a social system, just with Shareholders. Insurance cos...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: There is plenty of over-rationalisation in the majority of these answers, when the simple answer is that it is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: because it cost the insurer more, obviously. while this sounds snarky, it's important to realize that actual in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: One reason is because car insurance is mandated. Mandated insurance means the government is forcing people to p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: Insurance rates are about assessing risk. If the insurer has no way to reliably and easily assess usage, they ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: People who drive long distances tend to do more of their driving on larger, well-built roads (freeways / motorw...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a bank hold my deposit on a closed account? ### Answer: What I'm reading is that they subtracted the $85 you owe them and they're cutting you a cashier's check for the rest. Ethically speaking, y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I try to hedge my emergency savings against currency and political concerns? ### Answer: You have to balance several concerns here. The primary problem is that if you go to the effort of saving...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I try to hedge my emergency savings against currency and political concerns? ### Answer: First thing is that your English is pretty damn good. You should be proud. There are certainly adult n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: The United States Federal Reserve has decided that interest rates should be low. (They think it may help the economy. Th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: The short answer is that banking is complicated, but the bank really doesn't need your money because it can get it from ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: There is really much simpler explanation for the interest rate differences in different countries. It is the interest ra...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: Typically developing economics are marked by moderate to high inflation [as they are growing at a faster pace], higher i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: The 8% rate offered by Russian banks on US Dollar accounts reflects the financial problems they have. They would prefer ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: Banks in general will keep saving rates as low as possible especially if there is a surplus of funds or alternative acce...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are interest rates on saving accounts so low in USA and Europe? ### Answer: Some comments above are inaccurate. Advertised interest rates for deposits and savings in Russia (from Russian banks) ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK Contractor with Limited Company ### Answer: I know a guy on a much higher rate than me, about £500 per day, and he claims to pay around 18% tax which has me bewildered He will be showing expenses, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK Contractor with Limited Company ### Answer: I know a guy on a much higher rate than me, about £500 per day, and he claims to pay around 18% tax which has me bewildered Your acquaintance may be us...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How will going from 75% Credit Utilization to 0% Credit Utilization affect my credit score? ### Answer: I wrote an article about FICO scoring which shows that 30% of your score is based on utilization...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How will going from 75% Credit Utilization to 0% Credit Utilization affect my credit score? ### Answer: You really don't know how credit scoring works. Let's think about the purpose of a credit score:...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Better rate for investment between CD or savings ### Answer: Excel has two functions you can use: Your question has the CD with a APR and the savings account that mentions both APR and APY. So convert...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: I've been taking all the cheap fixed-rate debt banks would like to give me lately. What Rate? In practice I find the only way I get a l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: Money is a commodity like any other, and loans are a way to "buy" money. Like any other financial decision, you need to weigh the costs...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: Average return on the S&P500 over the last 10 years has been 1.6 %; so if you'd invested in that with money borrowed at 3 % you would h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: This is a very interesting question. I'm going to attempt to answer it. Use debt to leverage investment. Historically, stock markets ha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: It's not so much the rate of the debt as it is the total cost of the debt relative to the gain you expect to see from using it to purch...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: This post has a great discussion on the topic. Basically, there is no single interest rate above which you should pay off and below whi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: It's tough to borrow fixed and invest risk free. That said, there are still some interesting investment opportunities. A 4% loan will c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what interest rate should debt be used as a tool? ### Answer: I don't really see it as worth it at any level because of the risk. If you take $10,000,000 using the ratios you gave making 2% return....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can contractors recoup taxation-related expenses? ### Answer: They are already indirectly paying these expenses. They should be built into your rates. The amount per job or per hour needs to cove...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can contractors recoup taxation-related expenses? ### Answer: Anything is negotiable. Clearly in the current draft of the contract the company isn't going to calculate or withhold taxes on your b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the easiest way to back-test index funds and ETFs? ### Answer: Back-testing itself is flawed. "Past performance is no guarantee of future results" is an important lesson to understand. Market ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the easiest way to back-test index funds and ETFs? ### Answer: I'd start with a Google search for "best backtesting tools." Does your online brokerage offer anything? You already understand th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the easiest way to back-test index funds and ETFs? ### Answer: yAnother potential tool for you would be a Monte Carlo Simulator. here's one http://financial-dictionary.thefreedictionary.com...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the easiest way to back-test index funds and ETFs? ### Answer: check pastsat-backtesting , backtesting tool, where one can can test on well known technical indicators without coding skills ###...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best way for me to invest my money into my own startup? ### Answer: It will depend somewhat on the rules where the company is formed, and perhaps how much you're talking about investing. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best way for me to invest my money into my own startup? ### Answer: Ask your accountant about convertable preference shares. This would permit you to loan money to your company and then c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which countries allow eChecks? ### Answer: eChecks (and ACH) are a (desperate?) try of the US banking system to get into the 21st century. All EU countries (and some others) have direct deposits and t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which technical indicators are suitable for medium-term strategies? ### Answer: If I knew a surefire way to make money in FOREX (or any market for that matter) I would not be sharing it with you. If ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which technical indicators are suitable for medium-term strategies? ### Answer: Speaking from stock market point of view, superficially, TA is similarly applicable to day trading, short term, medium t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to pay taxes on YouTube if I'm a dependent? ### Answer: The Form 1040 (U.S. tax return form) Instructions has a section called "Do You Have To File?". Below a certain income, you are not required...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Recording of personal property contribution to S-Corp in QuickBooks ### Answer: One approach would be to create Journal Entries that debit asset accounts that are associated with these items and credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I really pay off my entire credit card balance each month or should I maintain some balance? ### Answer: You should pay things off every month. You don't want to be paying 10%-25% interest if ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I really pay off my entire credit card balance each month or should I maintain some balance? ### Answer: I think you got the message mixed up a little: Racking up big balances can hurt your sco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I really pay off my entire credit card balance each month or should I maintain some balance? ### Answer: Always pay on time, and stop listening to whoever is telling you not to -- they are clue...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: 75k is short of the 'highly compensated' category. Most US citizens in that pay range would consider paying someone to d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: There are few things going on here: My advice would be: with 75k income and a regular pay check there isn't a whole let y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: It's going to depend entirely on your tax situation, its complexity, and your willingness/interest in dealing with tax fi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: Good professional tax advice is expensive. If your situation is simple, then paying someone doesn't give you more than yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: I've been highly compensated for a while now, and I have never used a tax professional. My past complications include th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: Whether you do decide to go with a tax advisor or not, be sure to do some research on your own. When we moved to the US a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In US, is it a good idea to hire a tax consultant for doing taxes? ### Answer: Good tax people are expensive. If you are comfortable with numbers and computers, you can do it better yourself. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Non Resident aliens - Question of standard vs itemized ### Answer: The IRS' primary reference Pub 519 Tax Guide for Aliens -- current year online (current and previous years downloadable in PDF from t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the Fed keeping interest rates low stimulate investment in the stock market and other investments? ### Answer: Investopedia has this note where you'd want the contrapositive point: The interest r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to find if a public company has taken out a loan? ### Answer: Somewhat. The balance sheet will include liabilities which as Michael Kjörling points out would tell you the totals for the debt whic...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Master Limited Partnership (MLP) & how is it different from plain stock? ### Answer: I was hesitant to answer this question since I don't own MLP even though I'm aware of how they work. But...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Master Limited Partnership (MLP) & how is it different from plain stock? ### Answer: I own a few MLPs that operate oil/gas pipelines (TSE:IPL-UN, NYSE:BPT, NYSE:APL), and I'm very happy with...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Master Limited Partnership (MLP) & how is it different from plain stock? ### Answer: MLP stands for master limited partnership. Investors who buy into one are limited partners, rather than s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Master Limited Partnership (MLP) & how is it different from plain stock? ### Answer: My question is: absent the corporate shield, to what extent are partners liable for a serious disaster or...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to account for a shared mortgage in QuickBooks Online? ### Answer: How you should record the mortgage payments depends on if you are trying to achieve correct accounting, according to the standard...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to account for a shared mortgage in QuickBooks Online? ### Answer: You could classify the mortgage as a different assets class and then create automated additions and deductions to the account as ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to account for a shared mortgage in QuickBooks Online? ### Answer: What is the corporate structure? Your partnership agreement or LLC operating agreement should dictate how you approach this. ###e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are for-a-fee wires faster than 2+ day free ACH ### Answer: ACH transfers are the evolution of paper check clearing houses. Transactions are conducted in bulk and do not immediately settle -- the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Money transfer to the U.K ### Answer: I'd recommend an online FX broker like XE Trade at xe.com. There are no fees charged by XE other than the spread on the FX conversion itself (which you'll pay an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Money transfer to the U.K ### Answer: I've been using xetrade for quite awhile, also used nzforex (associated with ozforex / canadian forex, probably ukforex as well) -- xetrade has slightly better ra...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Transfering money from NRE to saving account is taxable or not ### Answer: Meagrely transferring money within your own accounts doesn't result in any tax, however legally once you are an NRI you canno...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Transfering money from NRE to saving account is taxable or not ### Answer: There are quite a few things here; Edit: If you are away for 2.5 Years, you are NRE. Your situation is slightly tricky in the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any credit cards with a statement period longer than 1 month? ### Answer: Most credit cards will allow you to pick the closing date. In fact almost every bill with the exception of utilities...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any credit cards with a statement period longer than 1 month? ### Answer: If the billing cycle is 2 to 3 months, it would mean Banks have to give credit for a longer period and it makes the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: how much of foreign exchange (forex/fx) “deep liquidity” is really just unbacked leverage and what is the effect? ### Answer: In essence the problem that the OP identified is not that the FX market it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: how much of foreign exchange (forex/fx) “deep liquidity” is really just unbacked leverage and what is the effect? ### Answer: I'd think that liquidity and speed are prioritized (even over retail broke...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: how much of foreign exchange (forex/fx) “deep liquidity” is really just unbacked leverage and what is the effect? ### Answer: First it is worth noting the two sided nature of the contracts (long one c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How dividend payout happens ### Answer: You will need to buy a stock before the ex-dividend date to receive the dividends. You can sell a stock on the ex-dividend date or after and you will receive th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How dividend payout happens ### Answer: As the record date is 7th August, you need to hold stocks on the 7th August closing. You need not hold it till 2nd Sept. The list as taken on 7th August would b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How dividend payout happens ### Answer: The ex-dividend date is the first date on which you may sell without losing your dividend. In this case that date is August 5th (thanks, Victor). The price op...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: ISA - intra year profits and switching process ### Answer: You're overthinking it. The ISA limit applies to the amount you invest into the ISA. In your example, £10,000. Whether that then fluctuates w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: ISA - intra year profits and switching process ### Answer: An ISA is a much simpler thing than I suspect you think it is. It is a wrapper or envelope, and the point of it is that HMRC does not care wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does the calculation for IRR use revenue, not profit? ### Answer: The short answer is that you would want to use the net inflow or net outflow, aka profit or loss. In my experience, you've got a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Sale of house profit gifted to child ### Answer: 1) You parents will have to pay tax on the gain as it wasn't their primary home. You don’t pay Capital Gains Tax when you sell (or ‘dispose of’) your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On a debt collection agency's letter, what does “balance” refer to? ### Answer: Without more info to go on (such as a screenshot of the relevant portion of the statement or what country you're in), I ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On a debt collection agency's letter, what does “balance” refer to? ### Answer: The balance is the amount due. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I borrow in order to improve a home I just bought? ### Answer: Be careful that pride is not getting in the way of making a good decision. As it stands now what difference does it make to have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I borrow in order to improve a home I just bought? ### Answer: It depends on your equity(assets - liabilities). If you have a lot of equity, banks will be happy to lend you money because they...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are pros and cons of UK Building Societies compared to banks? ### Answer: they may be willing to issue mortgages with smaller deposits, but may take longer to make a decision That cannot be farth...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does my checking/savings account offer a higher interest rate than a standalone savings account? ### Answer: The key is that you need to use your debit card to earn the higher interest rate. The b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to file taxes jointly with my girlfriend if we live together? ### Answer: In Ontario, common law marriage requires 3 years of cohabitation, and doesn't give rights to property (which remains...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to file taxes jointly with my girlfriend if we live together? ### Answer: If you pay her rent, how do you differ from a tenant in the eyes of the law? I ask this to show that you are in a bu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do credit card payments work? What ensures the retailer charges the right amount? ### Answer: When you give your credit card number and authorize a merchant to charge your credit card, the merchan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do credit card payments work? What ensures the retailer charges the right amount? ### Answer: Your credit card limit is nothing more than a simple number. When you purchase something, the merchan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the general principle behind choosing saving vs. paying off debt? ### Answer: It has to do with return. I don't know if Canada has a matching feature on retirement accounts, but in the US many ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the general principle behind choosing saving vs. paying off debt? ### Answer: Debt creates risk. Plain and simple. Comparing interest rates of debt vs. possible investing. To me, it is all m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the general principle behind choosing saving vs. paying off debt? ### Answer: Think of yourself as a business with two accounts, "cash" and "net worth". Your goal is to make money. "Cash" is wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the general principle behind choosing saving vs. paying off debt? ### Answer: Depends upon the debt cost. Assuming it is consumer debt or credit card debt, it is better to pay that off first, i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can used books bought off Amazon be claimed as a tax deduction in Australia? ### Answer: VAT = Value Added Tax (as an Aussie think "GST") This is applicable in Britain. Basically, if you were in Brita...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can used books bought off Amazon be claimed as a tax deduction in Australia? ### Answer: Yes, you can. That the books were purchased from abroad is irrelevant: you incurred an expense in the course o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can used books bought off Amazon be claimed as a tax deduction in Australia? ### Answer: Yes, if they meet the ATO's criteria. Books, periodicals and digital information If the item cost less than $30...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: privacy concerns when receiving money from paypal from strangers? ### Answer: You'll need to check PayPal's terms of service for that first question. I would imagine you could, as my wife and I both h...