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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cash flow implications of converting primary mortgaged residence to rental ### Answer: You have some of the math right, but are missing a few things. Here's what I can offer - if I leave anything out,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS give some help or leniency to first-time taxpayers? ### Answer: There's no such thing as "leniency" when enforcing the law. Not knowing the law, as you have probably heard, is not a valid...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS give some help or leniency to first-time taxpayers? ### Answer: No, there is no special leniency given to first time tax payers. In general, this shouldn't be an issue. The IRS collects y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS give some help or leniency to first-time taxpayers? ### Answer: It might not be leniency for first time payers, but they do have programs, some federal some local, that help the poor and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: That would be the ultimate in insider trading. They made a stock transaction knowing in advance what was going to happen to the share price. They could eas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: mhoran_psprep has answered the question well about "shorting" e.g. making a profit if the stock price goes down. However a CEO can take out insurance (call...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: If we take only the title of the question "can the CEO short the stock": It was probably different before Enron, but nowadays a CEO can only make planned t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: Yes. It's called executive hedging, and it's a lot more common than most people know. As long as it's properly disclosed and the decision is based on publi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: (yes, this should probably be a comment, not an answer ... but it's a bit long). I don't know what the laws are specifically about this, but my grandfather...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a CEO short his own company? ### Answer: It seems also on some international markets this is allowed. http://www.businessinsider.com/li-hejun-shorting-hanergy-2015-5 ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the differences between gold/siver “coin” vs. “round”? ### Answer: Coins are legal tender. They're authorized by governments and have a face value. Rounds are simply coined pieces of metal mi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the differences between gold/siver “coin” vs. “round”? ### Answer: littleadv gave a great answer, but neglected to mention one thing. Modern minted coins usually only contain a (high) percen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I just don't pay my student loans? ### Answer: Same thing as for any debt: bank sues you, you lose, you are in an even deeper hole because you now owe them for the cost of the court ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I just don't pay my student loans? ### Answer: employed under the table and doesn't have a bank account If I could make that size 10,000,000 font I would. Your friend likely also isn'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I just don't pay my student loans? ### Answer: Never forget that student lenders and their collection agencies are dangerous and clever predators, and you, the student borrower, are th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I just don't pay my student loans? ### Answer: Collection agencies will eventually find you if you work for an employer that uses the credit bureaus for pre-employment screening, or yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I just don't pay my student loans? ### Answer: Let me give you some advice from someone who has experience at both ends - had student loan issues myself and parents ran financial aid d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short selling - lender's motivation ### Answer: Oftentimes, the lender (the owner of the security) is not explicitly involved in the lending transaction. Let's say the broker is holding a long-term po...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short selling - lender's motivation ### Answer: As the other answer said, the person who owns the lent stock does not benefit directly. They may benefit indirectly in that brokers can use the short l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: The Motley Fool is generally regarded as relatively legit, at least in that they're not likely to do anything outright fraudulent and they definitely have reas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: Upselling you is how they make money. That's the price of the free content. Test their recommendations. Pretend to buy the stocks they say. How do they do? ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: Hmm.. hey bro, not personal, but is what comes to mind: I guess my answer will be highly down voted... =P ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: I've had a MF Stock Advisor for 7 or 8 years now, and I've belong to Supernova for a couple of years. I also have money in one of their mutual funds. "The Fool...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: Not sure how I came across the Motley Fool blog in the first instance, but found the writing style refreshing - then along came some free advice on ASX share p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I trust the Motley Fool? ### Answer: I would personally beware of the Motley Fool. Their success is based largely on their original investment strategy book. It had a lot of good advice in it, but...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Treatment of web domain ownership & reselling for tax purposes: Capital asset, or not? ### Answer: I must say that this is a question that you should hire a professional tax adviser (EA/CPA licensed i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Treatment of web domain ownership & reselling for tax purposes: Capital asset, or not? ### Answer: As others have said, please talk to a professional adviser. From my quick research, domain names can ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does it take so long to refund to credit card? ### Answer: It's not usually apparent to the average consumer, but there's actually two stages to collecting a payment, and two ways to undo it. The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does it take so long to refund to credit card? ### Answer: The holdup is from the merchant. To protect themselves, a merchant requires payment before giving you your purchased item/service. That ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I still building a credit score if I use my credit card like a debit card? ### Answer: I strongly suggest you look at CreditKarma and see how each aspect of what you are doing impacts your score. H...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I still building a credit score if I use my credit card like a debit card? ### Answer: Regardless of how it exactly impacts the credit score, the question is does it help improve your credit situat...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I still building a credit score if I use my credit card like a debit card? ### Answer: I always hesitate to provide an answer to "how does this affect my credit score?" questions, because the credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I still building a credit score if I use my credit card like a debit card? ### Answer: AIUI credit cards report three main things. The potential problem with your strategy is that by pre loading yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Implications of receiving small amounts of money on the side ### Answer: HMRC may or may not find out about it; the risks and penalties involved if they do find out make it unwise not to just declare ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Personal loan to a friend procedure ### Answer: If this isn't a case where you would be willing to forgive the debt if they can't pay, it's a business transaction, not a friend transaction. Establish ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under what circumstance will the IRS charge you a late-payment penalty for taxes? ### Answer: The IRS provides a little more information on the subject on this FAQ: Will I be charged interest and pena...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under what circumstance will the IRS charge you a late-payment penalty for taxes? ### Answer: I just got hit with the late payment penalty due to a bug in the H&R Block tax program. The underpayment ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under what circumstance will the IRS charge you a late-payment penalty for taxes? ### Answer: In practice the IRS seems to apply the late payment penalty when they issue a written paper notice. Those...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under what circumstance will the IRS charge you a late-payment penalty for taxes? ### Answer: Assuming US/IRS: If you filed on time and paid what you believed was the correct amount, they might be kin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under what circumstance will the IRS charge you a late-payment penalty for taxes? ### Answer: Years ago I mailed my personal tax return one day after the due date, and my check was deposited as normal...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is VAT applied when a tradesman charges for materials? ### Answer: The plumber will apply for and receive a refund of the amount of VAT he paid on the purchase amount. That's the cornerstone of how V...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to write the date on the back of a received check when depositing it? ### Answer: You do not need to write anything on the second line. There are a variety of helpful things that you can ad...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to write the date on the back of a received check when depositing it? ### Answer: Changed to answer match the edited version of the question No, you do not need to write the date of your end...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to write the date on the back of a received check when depositing it? ### Answer: Let me just add that while you don't need to write the date received on the back of the check, you could. Wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the pitfalls of loaning money to friends or family? Is there a right way to do it? ### Answer: There are two levels to consider here: That said, before loaning/giving anyone money ask yoursel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the pitfalls of loaning money to friends or family? Is there a right way to do it? ### Answer: The big problem with lending money to friends and family is that if things go sour with the deal...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the pitfalls of loaning money to friends or family? Is there a right way to do it? ### Answer: I recently lent some money to my sister. While I generally agree with Phillip that lending to f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Has anyone created a documentary about folks who fail to save enough for retirement? ### Answer: To answer your question, Retirement Revolution may fit the bill to some extent. I'd also like to addres...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Has anyone created a documentary about folks who fail to save enough for retirement? ### Answer: Since your question was first posted, I happened to watch PBS FRONTLINE's The Retirement Gamble, about ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: gift is taxable but is “loan” or “debt” taxable? ### Answer: (a) you give away your money - gift tax The person who receives the gift doesn't owe any tax. If you give it out in small amounts, there w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: gift is taxable but is “loan” or “debt” taxable? ### Answer: If you are looking to transfer money to another person in the US, you can do do with no tax consequence. The current annual gift limit is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: gift is taxable but is “loan” or “debt” taxable? ### Answer: The difference is whether or not you have a contract that stipulates the payment plan, interest, and late payment penalties. If you have on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I got my bank account closed abruptly how do I get money out? ### Answer: This is very possibly a scam. The way the scam works is that the scammers send you a letter and demand you call the telephone ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I got my bank account closed abruptly how do I get money out? ### Answer: First, make sure you are contacting the bank directly - use an old invoice you have on hand with a phone number direct to the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I got my bank account closed abruptly how do I get money out? ### Answer: If you can get to a physical branch, get a cashier's check (or call them and have them send you one by mail). When they draft...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I got my bank account closed abruptly how do I get money out? ### Answer: Coming from someone who has worked a in the account servicing department of an actual bank in the US, other answers are right,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I got my bank account closed abruptly how do I get money out? ### Answer: First, if your account has been closed you should not be able to use your debit card in any format. As you mentioned that you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Double-entry bookkeeping: When selling an asset, does the money come from, Equity or Income? ### Answer: There are basically two approaches, based on how detailed you want to be in your own personal a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Double-entry bookkeeping: When selling an asset, does the money come from, Equity or Income? ### Answer: It's better to use the accounting equation concept: Asset + Expenses = Capital + Liabilities + ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Double-entry bookkeeping: When selling an asset, does the money come from, Equity or Income? ### Answer: Selling an asset is not earning income. You are basically moving value from one asset (the lapt...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What foreign exchange rate is used for foreign credit card and bank transactions? ### Answer: A lot of questions, but all it boils down to is: . Banks usually perform T+1 net settlements, also called ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What foreign exchange rate is used for foreign credit card and bank transactions? ### Answer: On Credit Cards [I am assuming you have a Visa or Master card], the RBI does not decide the rate. The rate...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What foreign exchange rate is used for foreign credit card and bank transactions? ### Answer: In addition to the SELL rate on the statement transaction day, currency conversion fees of 0 - 3% is appli...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What do I do with a P11D Expenses & Benefits form? ### Answer: The P11D is a record of the total benefits you've received in a tax year that haven't been taxed in another way, a bit like the P60 is a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: As @ApplePie pointed out in their answer, at any given time there is a finite amount of stock available in a company. One subtlety you may be missing is that ther...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: Let's clarify some things. Companies allow for the public to purchase their shares through Initial Public Offering (IPO) (first-time) and Seasoned Public Offering...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: RonJohn is right, all shares are owned by someone. Depending on the company, they can be closely held so that nobody wants to sell at a given time. This can cau...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: Yes, all the shares of a publicly traded company can be purchased. This effectively takes the company private so that it's no longer traded on a stock market. Her...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: Stock trades are always between real buyers and real sellers. In thinly-traded small stocks, for example, you may not always be able to find a buyer when you want...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: If the share is listed on a stock exchange that creates liquidity and orderly sales with specialist market makers, such as the NYSE, there will always be a counte...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do market shares exhaust? ### Answer: Everyone has a price. If nobody is selling shares, then increase the price you will buy them for. And then wait. Somebody will have some hospital bills to pay for...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do 'payday money' stores fund their 'buy now, pay later' loans? ### Answer: Payday loan companies basically are banks (although they are incredibly terrible ones). Banks make money in two ways: ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do Banks Cause Inflation? What are other possible causes? ### Answer: No, it isn't generally believed that inflation is caused by individual banks printing money. Governments manage money supply thr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do Banks Cause Inflation? What are other possible causes? ### Answer: Some people believe that inflation is caused by an increase in the money supply when the banks engage in fractional reserve lendi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do Banks Cause Inflation? What are other possible causes? ### Answer: There are several causes of inflation. One is called cost push — that is, if the price of e.g. oil goes up sharply (as it did in ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: It is highly unlikely that this would be approved by a mortgage underwriter. When the bank gives a loan ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: I will expand on Bacon's comment. When you are married, and you acquire any kind of property, you automati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: In this case can the title of the home still be held by both? Yes, it is possible to have additional peopl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: The mortgage and title of the house would be under both your names equally. When I applied for a mortgage...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: I did that. What is allowed changes over time, though — leading up to the crisis, lenders would approve a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: It's not typically possible for someone to jointly own the house, who is not also jointly liable for the m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: It depends on the bank - In some cases(mine included :) ) the bank allowed for this but Emma had to sign o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can an unmarried couple buy a home together with only one person on the mortgage? ### Answer: There is no issue whatsoever, getting a mortgage this way as an unmarried couple. This is very similar to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Isn't an Initial Coin Offering (ICO) a surefire way to make tons of money? ### Answer: My big gripe with the ICO name and corresponding mania is that it has no similarity to an IPO. At best an ICO is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Isn't an Initial Coin Offering (ICO) a surefire way to make tons of money? ### Answer: There is no sure thing in investing. Everything has a risk component. Sure, people talk about these cryptocurrenc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Isn't an Initial Coin Offering (ICO) a surefire way to make tons of money? ### Answer: Given your premise is correct: How do you cash in a large sum of YetAnotherCryptoCoin shortly after it´s ICO? Th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Isn't an Initial Coin Offering (ICO) a surefire way to make tons of money? ### Answer: A sure-fire way to make money? Hell no. There are tonnes of scams and money grabs out there, not to mention the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a person not want to purchase a Personal Liability (Umbrella) insurance policy? ### Answer: This article has a section titled "Do you need an umbrella policy to cover your personal liability...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a person not want to purchase a Personal Liability (Umbrella) insurance policy? ### Answer: The two questions inherent in any decision to purchase an insurance plan is, "how likely am I to n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a person not want to purchase a Personal Liability (Umbrella) insurance policy? ### Answer: You only need umbrella policy for large amounts of liability protection (I think they usually star...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: Sister is putting down nothing, and paying sub-market rent. It looks to me like if she is assigned anything, it's a gift....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: Accounting for this properly is not a trivial matter, and you would be wise to pay a little extra to talk with a lawyer a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: It may clarify your thinking if you look at this as two transactions: I am an Australian so I cannot comment on US tax la...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: The bottom line is that you can decide whatever you want to do. It is good of you to get everything in writing. What ha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: You and your husband are fronting all the money upfront. I'm guessing this will cost you around 67,000 once closing costs...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate ownership percentage for shared home ownership? ### Answer: Once your sister and you make your first payments, you've paid $20,645, and your sister has paid $1400. But your sister a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: The biggest red flag is the fact that your parents may lose the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: This solution obviously wouldn't work for everyone, and is cont...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: For the vast majority, "buying" a house via a mortgage is not a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: If you think that your parents' home is in danger, you might wa...