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Share your insights or perspective on the financial matter presented in the input. | In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? | This is something you should decide as part of entering a partnership with someone. Ideally before you make the initial purchase you have a detailed contract written up. If you have already bought the house and someone is now ready to move out the easiest thing to do is sell the house. If that is not an option, you'll... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | What is meant by “unexpected expenses” in my 401k plan? | IANAL, but it sounds like indemnification language. They are saying they have the option to charge expenses to participants if they would like. It should say explicitly (you mention that it does) who the 'default payer' is. Unexpected expenses could be anything that's not in the normal course of business. I know that d... |
Share your insights or perspective on the financial matter presented in the input. | Earning salary from USA remotely from New Zealand? | "Can the companies from USA give job to me (I am from New Zealand)? Job as being employee - may be tricky. This depends on the labor laws in New Zealand, but most likely will trigger ""nexus"" clause and will force the employer to register in the country, which most won't want to do. Instead you can be hired as a contr... |
Share your insights or perspective on the financial matter presented in the input. | Live in Oregon and work in Washington: Do I need to file Oregon state taxes? | Yes. Here's the answer to this question from oregon.gov: 3. I am moving into Oregon. What income will be taxed by Oregon? As an Oregon resident, you are taxed on ALL income regardless of the source of the income. This includes, but is not limited to: You may need to pay estimated taxes if you don't have Oregon with... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How smart is it to really be 100% debt free? | If you can borrow for an asset that gives you income that's more than the cost of carrying the debt, then go for it. But the kinds of debts you have now aren't those kinds of debt, so get rid of them. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Can't the account information on my checks be easily used for fraud? | Yes, and there are almost no checks (no pun intended) on people pulling money from your account using a routing number. It is an EXTREMELY insecure system. If you want a real Halloween scare, read this article: Easy Check Fraud Technique Draws Scrutiny. Unfortunately you just have to live with it. If you are curious wh... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | How to share income after marriage and kids? | "My suggestion would be that you're looking at this the wrong way, though for good reasons. Once you are a family, you should - and, in most cases I've seen, will - think of things differently than you do now. Right now, your post above is written from a selfish perspective. Not to be insulting, and not implying self... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is the gross amount of US debt dangerous for the small investor? | "Not a lot, directly. Your biggest direct risk is that you could buy the debt, and buy it at too high a price (i.e. too low an interest rate) and not make as much money as you ought (and maybe not enough to cover inflation, especially if you buy long-term bonds at low interest rates.) The indirect risks are mostly that... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | What are some time tested passive income streams? | Dividends are a form of passive income. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How secure is my 403(b)? Can its assets be “raided”? | The simple answer is that with the defined contribution plan: 401k, 403b, 457 and the US government TSP; the employer doesn't hold on to the funds. When they take your money from your paycheck there is a period of a few days or at the most a few weeks before they must turn the money over to the trustee running the prog... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | How is an ETF's NAV determined? | An ETF manager will only allow certain financial organisations to create and redeem ETF shares. These are called Authorised Participants (APs). The APs have the resources to bundled up packages of shares that they already own and hold in order to match the ETFs requirements. In the case of the EDEN ETF, this portfol... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Stop paying VAT on digital sales when earnings are under £81k | You can't currently avoid it. The reason the legislation was introduced was to prevent the big-name developers from setting up shop in a low-VAT country and selling apps to citizens of EU countries that would normally be paying a much higher VAT. You need to register for VAT and file quarterly nil-returns so that you ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why do some people go through contortions to avoid paying taxes, yet spend money on expensive financial advice, high-interest loans, etc? | "One is a choice the other is not. While they are both liabilities on the balance sheet, in the real world they are quite different. We do not feel as much ownership over our money that goes to interest payments as we do over our tax payments. Taxes pay for our government and the services it provides. Interest, on ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is housing provided by a university as employer reported on 1040? | To answer your question directly, this is a taxable benefit that they are providing for you in lieu of higher wages. It is taxable to the employee as income and through payroll taxes. It is taxable to the employer for their half of the payroll taxes. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Capital Gains in an S Corp | These are all factually correct claims. S-Corporation is a pass-through entity, so whatever gain you have on the corporate level - is passed to the shareholders. If your S-Corp has capital gains - you'll get your pro-rata share of the capital gains. Interest? The same. Dividends? You get it on your K-1. Earned income? ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Why do stocks go up? Is it due to companies performing well, or what else? [duplicate] | "The value of a stock ultimately is related to the valuation of a corporation. As part of the valuation, you can estimate the cash flows (discounted to present time) of the expected cash flows from owning a share. This stock value is the so-called ""fundamental"" value of a stock. What you are really asking is, how ... |
Share your insights or perspective on the financial matter presented in the input. | Does the rise in ACA premiums affect employer-provided health insurance premiums? | There are a lot of moving parts, individual premiums and annual increases have little to do with employer premiums and annual increases and vice versa. Most people think of XYZ insurer as a single company with a single pool of insured folks. This common knowledge isn't accurate. Insurers pool their business segments... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What caused this drop? | I'm going to guess that you found this because of a stock screener. This company went through a 1:20 reverse split on June 30, so every 20 shares outstanding became a single share. Where before you had 20 shares worth $100 you now have 1 share worth $100, the value of the company doesn't change because of a split. T... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How do markets “factor in” a future event? | "At the most fundamental level, every market is comprised of buyers and selling trading securities. These buyers and sellers decide what and how to trade based on the probability of future events, as they see it. That's a simple statement, but an example demonstrates how complicated it can be. Picture a company that's ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | How to secure one's effort when working on a contract? | "Anytime you do work without any payment until the work is complete, you are effectively extending credit to the party receiving your service. How much credit you are willing to extend will vary greatly, depending on the amount and the trustworthiness of the party. For example, if you are charging $50 for something, yo... |
Share your insights or perspective on the financial matter presented in the input. | Is accident insurance worth it for my kids who play sports | "The general answer to any ""is it worth it"" insurance question is ""no,"" because the insurance company is making a profit on the insurance.* To decide if you want the insurance, you need to figure out how much you can afford to pay if something happens, how much they cover, and how badly you want to transfer your ri... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | In what ways can a public company ask for money? | "There are many different methods for a corporation to get money, but they mostly fall into three categories: earnings, debt and equity. Earnings would be just the corporation's accumulation of cash due to the operation of its business. Perhaps if cash was needed for a particular reason immediately, a business may con... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why is it not a requirement for companies to pay dividends? | The shareholders have a claim on the profits, but they may prefer that claim to be exercised in ways other than dividend payments. For example, they may want the company to invest all of its profits in growth, or they may want it to buy back shares to increase the value of the remaining shares, especially since dividen... |
Share your insights or perspective on the financial matter presented in the input. | MasterCard won't disclose who leaked my credit card details | "As indicated in comments, this is common practice in the US as well as EU. For example, in this Fox Business article, a user had basically the same experience: their card was replaced but without the specific merchant being disclosed. When the reporter contacted Visa, they were told: ""We also believe that the publi... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | What steps are required to transfer real estate into a LLC? | "especially considering it has a mortgage on it (technically a home equity loan on my primary residence). I'm not following. Does it have a mortgage on it, or your primary residence (a different property) was used as a security for the loan? If it is HELOC from a different property - then it is really your business w... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How Should I Go About Buying a Car? (College Student) | So you want to buy a car but have no money saved up.... That's going to be hard!! I'd suggest you get a part-time job, save up and buy a used car. Even with the minimum wage pay in the U.S., if you are in the U.S., you could save up and buy a car in less than a month. This route would be the quickest way for you to get... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Opening American credit cards while residing in the UK | To build a US credit record, you need a Social Security Number (SSN), which is now not available for most non-residents. An alternative is an ITIN number, which is now available to non-residents only if they have US income giving a reason to file a US tax return (do you really want to get into all that...). Assuming ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | What dictates the costs of creating an options contract? (Commissions breakdown) | I'm not positive my answer is complete, but from information on my broker's website, the following fees apply to a US option trade (which I assume you're concerned with given fee in dollars and the mention of the Options Clearing Corporation): They have more detail for other countries -- see https://www.interactivebrok... |
Share your insights or perspective on the financial matter presented in the input. | Smart to buy a house in college? | "If you don't plan to stay in it, it is never good money to try to buy a house in a bad neighborhood. The question you want to be asking is probably ""Is it smart to buy this piece of real estate,"" not ""is it smart to buy a house in college."" In this case, it's probably not smart because you won't actually have rev... |
Share your insights or perspective on the financial matter presented in the input. | Non Resident Alien Spouse Treated As Resident - Self Employment Income | First, the SSN isn't an issue. She will need to apply for an ITIN together with tax filing, in order to file taxes as Married Filing Jointly anyway. I think you (or both of you in the joint case) probably qualify for the Foreign Earned Income Exclusion, if you've been outside the US for almost the whole year, in which ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | What to do when paying for an empty office space? | This sounds obvious, but: If the landlord is easygoing, you could ask him if he's okay with you subletting the space, and then you could sublet it. Of course you may have to do some work yourself to find an appropriate tenant and make sure you're doing everything legally, but if it works, it's better than paying rent ... |
Share your insights or perspective on the financial matter presented in the input. | Should I buy or lease a car given that its not a super luxury car and I only drive 15 miles/d on avg? | I have a few recommendations/comments: The trick here is to make it clear to the dealer that you will not be getting a new car from them and their only hope of making some money is to sell you your own car. You need to be prepared to walk away and follow through. DON'T buy a new car from them even if you end up turning... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Tax on insurance payment due to car deemed as total loss? | DJClayworth's response is generally correct. You wouldn't have to pay taxes on insurance benefits, since those are in fact bringing you whole to what you've lost. However, in some cases you do need to consider taxes. Specifically, if the insurance payout is higher than your cost basis in the lost property. While you ma... |
Share your insights or perspective on the financial matter presented in the input. | Working for recruiter on W-2 vs. working for client on 1099? | I don't think anyone can give you a definitive answer without knowing all about your situation, but some things to consider: If you are on a 1099, you have to pay self-employment tax, while on a W-2 you do not. That is, social security tax is 12.4% of your income. If you're a 1099, you pay the full 12.4%. If you're W-2... |
Share your insights or perspective on the financial matter presented in the input. | How are derivatives different from bucket shops? | "How are derivatives like covered warrants or CFDs different from the bucket shops that were made illegal in the US? After reading up a little on the topic, the core difference seems to be that bucket shops were basically running betting pools, with everyone betting against the operator, whereas CFDs and similar deriva... |
Share your insights or perspective on the financial matter presented in the input. | Can one be non-resident alien in the US without being a resident anywhere else? | "You'll need to read carefully the German laws on tax residency, in many European (and other) tax laws the loss of residency due to absence is conditioned on acquiring residency elsewhere. But in general, it is possible to use treaties and statuses so that you end up not being resident anywhere, but it doesn't mean tha... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Unusual real estate market with seemingly huge rental returns | I would not claim to be a personal expert in rental property. I do have friends and family and acquaintances who run rental units for additional income and/or make a full time living at the rental business. As JoeTaxpayer points out, rentals are a cash-eating business. You need to have enough liquid funds to endure un... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Monthly money transfers from US to Puerto Rico | Puerto Rico: Last I checked, the Puerto Rico banking system wasn't materially different than working within the US - though some Continental US banks exclude US Territories like Guam and Puerto Rico or charge more when dealing with them. I'm not certain as to why. However, most banks don't see them any differently than... |
Share your insights or perspective on the financial matter presented in the input. | Why do people buy insurance even if they have the means to overcome the loss? | There are a couple of reasons that a person might choose to use insurance even if they could handle the financial loss if something went wrong. They know their risk better than the insurance company. While it might seem odd at first glance that an individual can be better at assessing risk than a large company with tho... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | 401(k) lump sum distribution limited because of highly compensated employees? | It's legal. In fact, they are required to do this, assuming you are in fact a HCE (highly compensated employee) to avoid getting in trouble with the IRS. I'm guessing they don't provide documentation for the same reason they don't explain to you explicitly what the income thresholds are for social security taxes, etc -... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | What would a stock be worth if dividends did not exist? [duplicate] | "Unrealistic assumption, but I'll play along. Ultimately, dividends would exist because some innovative shareholder of some company, at some time, would desire income from their investment and could propose the idea of sharing the profit. Like-minded investors also desiring income could vote for dividends to come into ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Valuing a company and comparing to share price | There are books on the subject of valuing stocks. P/E ratio has nothing directly to do with the value of a company. It may be an indication that the stock is undervalued or overvalued, but does not indicate the value itself. The direct value of company is what it would fetch if it was liquidated. For example, if you bo... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | How does 1099 work with my own company | Can I work on 1099 from my own company instead of on W2? The reason is on W2 I can't deduct my commute, Health Insurance and some other expenses while on 1099 I think I can able do that. Since I am going to client place to work not at my own office, I am not sure whether I should able to do that or not. If you ... |
Share your insights or perspective on the financial matter presented in the input. | Safe and cheap way to send money from Canada to South America | "The catch with any exchange service is that you're going to involve some sort of business and they're going to want to get paid for their service. These services all come with their own exchange rates, fees, waiting periods, or requirements to even use said service. Commonly, pros towards one of those comes at the cos... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | What are the tax liabilities for an international transaction? | After a bit of rooting around the HMRC sites, I found this page which says this: One key difference is that digitised products are classed as electronically-supplied services for VAT and customs duties. These services are: For VAT purposes, the place of supply of these services is the country in which the customer live... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Is it worth incorporating, when working in Canada as a contractor for an employer in the US? | "Interesting as I am in the exact same situations as yourself. I, in fact, just incorporated. You will be able ""save"" more in taxes in the end. The reason I put ""save"" in quotes, is that you don't necessarily save on taxes, but you can defer taxes. The driving factor behind this is that you specify your own fis... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Will getting a second credit card help my credit rating? | This very much depends how you use that second line of credit and what your current credit is. There are of course many more combinations buy you can probably infer the impact based on these cases. Your credit score is based on your likely hood of being profitable to a creditor should they issue you credit. This is b... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Is it possible as a non-Indian citizen to create an Indian bank account (denominated in rupees) that can exchange & repatriate its funds? | No, in your situation it is not possible. Mostly, only three types of accounts are available to individuals: So, a complete foreigner can open account in India, only if he is working in India, a type of Savings account, and that account too will be linked to his resident status. If he leaves work, he needs to close thi... |
Share your insights or perspective on the financial matter presented in the input. | What should I be aware of as a young investor? | "I'm 39 and have been investing since my very early 20's, and the advice I'd like to go back and give myself is the following: 1) Time is your friend. Compounding interest is a powerful force and is probably the most important factor to how much money you are going to wind up with in the end. Save as much as you possib... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | What factors should I consider in picking a bond? | just pick a good bond and invest all your money there (since they're fairly low risk) No. That is basically throwing away your money and why would you do that. And who told you they are low risk. That is a very wrong premise. What factors should I consider in picking a bond and how would they weigh against each other? ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Do credit checks affect credit scores? | There are two types of credit checks. First is the hard pull which is typically done when you apply for a credit line. The lender will hard pull your file and make his/her decision based on that. This affects your score negatively. You might lose few points for one hard inquiry. Second type is soft pull, which is done ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Why are the banks and their customers in the United States still using checks? [duplicate] | Check use is declining here too, but it still has some practical advantages over electronic means: |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why did the Swiss National Bank fix the EUR/CHF exchange rate at CHF 1.20? | "Due to the issues in the Eurozone, many foreign investors were buying Swiss Francs as a hedge against a Euro devaluation. They were in effect treating the Franc like gold, silver or some other commodity with perceived intrinsic value. This causes huge problems from the Swiss, as the value of the Franc increased and th... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Are the sellers selling pre-IPO shares over these websites legitimate or fake? | "I think you're right that these sites look so unprofessional that they aren't likely to be legitimate. However, even a very legitimate-looking site might be a fake designed to separate you from your money. There is an entire underground industry devoted to this kind of fakery and some of them are adept at what they d... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is gold really an investment or just a hedge against inflation? | The problem I have with gold is that it's only worth what someone will pay you for it. To a degree that's true with any equity, but with a company there are other capital resources etc that provide a base value for the company, and generally a business model that generates income. Gold just sits there. it doesn't make... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is the basis of an asset that is never depreciated? | That's tricky, actually. First, as the section 1015 that you've referred to in your other question says - you take the lowest of the fair market value or the actual donor basis. Why is it important? Consider these examples: So, if the relative bought you a brand new car and you're the first title holder (i.e.: the rela... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | To rebalance or not to rebalance | "An asset allocation formula is useful because it provides a way to manage risk. Rebalancing preserves your asset allocation. The investment risk of a well-diversified portfolio (with a few ETFs or mutual funds in there to get a wide range of stocks, bonds, and international exposure) is mostly proportional to the asse... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | What is the interest rate online brokerages paying out tied to? | The prime rate is the interest rate banks use amongst themselves to lend money to each other only. It is used as the basis (sometimes) for what interest rate banks charge you. The prime rate is based loosely on the Fed rate. There is a committee that meets regularly to set this and other industry interest rates. http... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Selling on eBay without PayPal? | I've definitely seen a similar conversation about this, I personally don't buy from eBay (Amazon for me). So I turned to the internet to see what I could find to offer you any additional information (albeit not my personal experience). I first read this article: CodeNerdz Article and was pretty horrified by the scammi... |
Share your insights or perspective on the financial matter presented in the input. | Scam or Real: A woman from Facebook apparently needs my bank account to send money | "The other answers describe why this is highly likely to be a scam. This answer describes why you don't want to get involved, even in the unlikely case that it isn't a scam. I'm describing this using US law (which I'm not particularly familiar with, so if I go astray I'd suggest others fix any flaws in this answer), b... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | What benefits are there to having a Pension (Retirement Account) In Ireland? | As you point out, the main benefits of a pension/retirement account over a traditional cash/taxable account are the legal and tax benefits. Most Western countries establish a specific legal definition for an account which is often taxed less or not at all relative to taxable accounts and which contains some protection... |
Share your insights or perspective on the financial matter presented in the input. | Why do 1099 forms take so long for brokerages to prepare and send out? | "There are probably many correct answers to this question, but for most people, the main reason is qualified dividends. To be a qualified dividend (and therefore eligible for lower tax rates), the dividend-paying stock or fund must be held for ""more than 60 days during the 121-day period that begins 60 days before the... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How do I fold side-income into our budget so my husband doesn't know? | "Maybe you can just hang onto the cash and upgrade the things you buy for cash now a bit. Buy the better cut of meat, the nicer pair of shoes, etc. Since you have no trouble with bending the truth a bit.. if challenged, the shoes were ""on sale"". And no you must have lost the receipt. Not that I'm advocating it, but... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Does exposure to financials in corporate bond funds make sense? | One reason a lot of bond ETFs like Financials are because of how financial companies work. They usually have amazing cash flows due to deposits and fees and therefore have little risk associated with paying their debts in the short term. The rest of VCSH contains companies with low default risk and good cash flow gene... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I remodel or buy a bigger house? | After a 6% commission to sell, you have $80K in equity. 20% down on a $400K house. 5% down will likely cost you PMI, and I don't know that you'll ever see a 3.14% rate. The realtor may very well have knowledge of the cost to finish a basement, but I don't ask my doctor for tax advice, and I'd not ask a realtor for co... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | What should I do with my money? | "I don't think blanket answers are very helpful. You are asking the right question when you are young! You have a large number of investment options and Australia has the Superannuation system that you can extract significant tax value from. I've not attempted to grade these with regard to ""risk"", as different people... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Do I have to pay tax on money I earn as a tutor? | You would be required to report it as self-employment income and pay tax accordingly. It's up to you to keep proper records (like a receipt book, for example), especially when it comes to cash. If you can't prove exactly how much you earned and the government decides to guess the amount for you then you won't like th... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Health insurance deduction on schedule C if also full time employee with w2? | Checkout the worksheet on page 20 of Pub 535. Also the text starting in the last half of the third column of page 18 onward. https://www.irs.gov/pub/irs-pdf/p535.pdf The fact that you get a W-2 is irrelevant as far as I can see. Your self-employment business has to meet some criteria (such as being profitable) and th... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Tax for Basket with Coupon containing two different VAT rates | The vendor needs to do this using apportionment, according to the VAT rules for mixed supplies: If you make mixed supplies and the individual supplies are not liable to VAT at the same rate then you need to work out the tax value of each supply in order to calculate how much tax is due. If the tax value is based ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why do Americans have to file taxes, even if their only source of income is from a regular job? | One of the reasons, apart from historical, is that different people have different tax liabilities which the employer may not be aware of. For example, in the US we don't pay taxes in source on investment income, and there are many credits and deductions that we can't take. So if I have a child and some interest income... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Does reading financial statements (quarterly or annual reports) really help investing? | Reading financial statements is important, in the sense that it gives you a picture of whether revenues and profits are growing or shrinking, and what management thinks the future will look like. The challenge is, there are firms that make computers read filings for them and inform their trading strategy. If the comput... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Why is routing number called ABA/ABN number? | The ABA number you speak of is more accurately called the Routing Transit Number. http://en.wikipedia.org/wiki/Routing_transit_number A routing transit number (RTN) is a nine digit bank code, used in the United States, which appears on the bottom of negotiable instruments such as checks identifying the financial ... |
Share your insights or perspective on the financial matter presented in the input. | First concrete steps for retirement planning when one partner is resistant | "I would suggest you do three things: If you do all three of these, the time will come when ""2 months off to go to Italy this winter and ride bikes through wine country"" is something you both want to do, can afford to do, and have arranged your lives to make it feasible. Or whatever wow-cool thing you might dream of.... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Is it practical to take actual delivery on a futures contract, and what is the process? | Here's a good link that can answer your question: How to take delivery of a futures contract The relevant part states: Prior to delivery day, they inform customers who have open long positions that they must either close out the position or prepare to take delivery and pay the full value of the underlying contract. By ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Should I sell my individual stocks and buy a mutual fund | "I would normally take a cautious, ""it depends"" approach to answering a question like this, but instead I'm going to give you a blunt opinionated answer based solely on what I would do: Even the crap. Get rid of them and get into the boring low fee mutual funds. I was in a similar situation a few years ago, almost. ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | A guy scammed me, but he gave me a bank account number & routing number. Can I use that to take out what he owes me? | "You're potentially in very deep water here. You don't know who this person is that you're dealing with. Before you'd even met him, he just gave you his banking info, seemingly without a second thought. You have no idea what the sources of his money are, so what happens if the money is stolen or otherwise illegal? ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to reduce mortgage rate with low income but high assets | "In your shoes, I would pay off the mortgage with the after tax investments and be done. You have different goals than I do in that you want to keep the debt. So, I would start calling mortgage brokers and asking for someone who does ""manual underwriting"". Manual underwriting essentially means they use common s... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Effect of Job Change on In-Progress Mortgage Application | Best advice is to ask your lender. That being said, if you are changing jobs, but keeping the same type of job you are usually ok and if the loan was approved before, it would still be approved. If you switch from W-2 to 1099 or vice-versa, permanent to contract, switch industries (software dev to accountant), or make... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Should I invest in a Health Insurance +1 policy from my Employer? | "If I read your figures correctly, then the cost difference is negligible. ($1.84 difference) The main determining factor, I'd think, would be the coverage. Do you get more, or less, coverage now than you would if you went together on the same plan? You'd both be covered, but what is the cap? Plans, and employer cont... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | What's the minimum revenue an LLC must make in Florida or NY states? | "Depends on the State. In California, for example, you pay a franchise tax of $800 every year just for having LLC, and in addition to that - income tax on gross revenue. But in other States (like Wyoming, for example) there's no taxes at all, only registration fees (which may still amount to ~$100-300 a year). IRS does... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is buying or selling goods for gold or silver considered taxable? | "Of course. The rationale is exactly the same as always: profit is taxed. The fact that you use intermediate barter to make that profit is irrelevant. To clarify, as it seems that you think it makes a difference that no money ""changed hands"". Consider this situation: So far your cost is $10000. How will the tax autho... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | What factors would affect the stock price of a sports team? | Costs are almost entirely salaries Apart from all the usual costs incurred by running a large, complex, business, ManU are servicing debt that is getting up around the GBP500M mark. This is debt racked up by the Glazer family since purchasing the team, as well as debt they took with them to the team. What sort of fac... |
Share your insights or perspective on the financial matter presented in the input. | Why so much noise about USA's credit rating being lowered? | Because US bonds have had the prior impression of absolute invincibility and safety that has helped the dollar become the world's reserve currency and the United States borrow essentially at will. For the people that care what S&P says, the aura of invincibility is broken and it is conceivable, in SOME universe, for th... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can I minimize the impact of the HST? | The HST is a sales tax levied on most goods and services. It is important to realize that in both BC and Ontario, the new HST does not (in most cases) result in an increase in sales tax paid. For example, in Ontario the PST is 8% and when combined with the GST the sales tax is 13%. With the HST, the GST and PST are rep... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How is a relocation fee of more than 40k taxed? | It is ordinary income to you. You should probably talk to a California licensed CRTP/EA/CPA, but I doubt they'll say anything different. You would probably ask them whether you can treat some of it as a refund of rent paid, but I personally wouldn't feel comfortable with that. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Do the tax consequences make it worth it for me to hold ESPP stock? | To try to answer the three explicit questions: Every share of stock is treated proportionately: each share is assigned the same dollar amount of investment (1/176th part of the contribution in the example), and has the same discount amount (15% of $20 or $25, depending on when you sell, usually). So if you immediately ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Taxes for citizen of EU country #1 living in EU country #2 and working from home for non-EU country #3? | You will almost certainly be paying taxes in Czech Republic, short of being American of Eritrean, citizenship has little to no bearing on tax. If you are working from home, you will probably be a contractor. In Romania you would work through either an SRL or you would set up a PFA. Essentially a limited company or a so... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How does sales tax holiday change tax? | I believe you are confusing sales tax with income tax. The tax holidays in the US are only for sales tax. Consumers purchasing certain goods during the tax holiday do not have to pay sales tax like they normally would. Effectively the price is slightly lower during those days with the purpose of giving people an extra ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can one go short in Uber? | The answer to this question is related to another question: How would I invest in Uber? Given that Uber is a privately-held company, the average investor cannot directly buy stock. However, there are some indirect methods that you can use to invest in Uber, and as a result, it is also possible to indirectly short Uber... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | How can I improve my auto insurance score? | Move to a small town in an insurance friendly state. - Certian states like Florida are considered high risk for doing business for insurance companies. Get a (relatively)new midsize sedan in white, tan, or brown. These colors are the least likely to get stolen and the modern midsized sedan is considered the safest v... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | Computer vendor not honoring warranty. What's the next step? | "You're probably best off going to a different store to fix the computer. Right now you don't have ""damages."" You could sue him but, there's no thing to sue for. If you sue for your original costs, you'd have to return the computer and probably only receive a portion of your original costs, less court filing fees. ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Why haven't there been personal finance apps or softwares that use regression modeling or A.I.? | What would they be trying to predict? The value YNAB and Mint provide is objective truth about what you've spent. They can force you to think about the tradeoffs inherent in budgeting by showing that you've overspent one category, and making you decide where to find the money to cover it. They can call your attention ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Ordering from Canada, charged in CAD or USD? | Typically, businesses always charge their 'home' currency, so if the shop is in Canada, you will pay Canadian Dollars. Normally you don't have any choices either. Your credit card company will convert it to your currency, using the current international currency exchange rate (pretty good), plus a potential fee between... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Are credit histories/scores international? | Currently the credit history are not International but are local. Many countries don't have a concept of credit history yet. Having said that, if you are moving to US, depending on your history in your country, you can ask the same bank to provide you with a card and then start building history. For example in India ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Any problem if I continuously spend my credit card more than normal people? | How will going from 75% Credit Utilization to 0% Credit Utilization affect my credit score? might answer your question if US based. In the US, what counts is what shows on the bill. I've run $20K through a card with a $10K limit, but still ended the month under $2K by making extra payments. As long as you stay ahead o... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. | Is there a rule of thumb to help “Sanity check” insurance costs? | Your best bet would be to find an independent Property and Casualty Insurance agent and buy through him/her. Insurance agents make a commission, yes - BUT - the cost to consumer is THE SAME whether you buy through an agent or through directly through the company. Any P&C agent would be happy to run your numbers for you... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject. | How long does it take for money to transfer into a mastercard? | In a nutshell, as long as they (Sparkasse) choose to. I work with banks where it happens the moment I submit the transaction (so the next screen already shows the new totals), and I work with banks that make it take 3 days. In the past, Sparkasse and Raifeissenkassen were especially famous to take a looong time ('Wir n... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | Should I stockpile nickels? | At one point it was illegal to melt silver coins in the US, but it is legal now. I don't know that will happen with copper coins, but that's what happened with silver coins. Accumulating nickels and leaving them as-is (in their spendable state) is legal. It's also a way to take physical ownership of copper. I expect ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. | What are the tax implications of lending to my own LLC? | "It'll be just like any other loan you make, on your end, and receive, on your LLC's end. You pay taxes on the interest received, and your LLC can deduct the interest paid. Do make sure you set it up properly, however: If you want to loan money to your business, you should have your attorney draw up paperwork to ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Double-entry bookkeeping: How to account for non-monetary taxable benefits received from employer? | "I can say that I got X dollars from an account like ""Income:Benefits""... but where do I credit that money to? ""Expenses:Groceries"" Yes doesn't feel right, since I never actually spent that money on food, You did, didn't you? You got food. I'm guessing there's an established convention for this already? Doubt it.... |
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