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Instruct: Given a financial question, retrieve user replies that best answer the question Query: What purchases, not counting real estate, will help me increase my cash flow?	Brownbag your lunch and make coffee at home. If your current lifestyle includes daily takeout lunches and/or barista-made drinks, a rough estimate is you have a negative cash flow of $8-20 per day, $40-100 per week, $2080-5200 per year. If you have daily smoothies, buy a blender. If you have daily lattes buy an es...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What purchases, not counting real estate, will help me increase my cash flow?	"Mutual funds can be relatively low risk and a good starting point. Really it depends on you. What are your goals? This is a pretty open ended question. These can all be low risk and provide some return. Note ""Less Knowledge"" is never a good qualifier for an investment. Your money is your business and you are entit...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Paid credit card bill, but money didn't leave my checking account [duplicate]	The fact that your credit card has seen the payment is strong evidence that the transaction did in fact take place. But it's not unusual for there to be a delay of one or two business days before transactions show up in your online banking records. Saturday and Sunday are not business days. I bet you will see it on...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Paid credit card bill, but money didn't leave my checking account [duplicate]	You probably don't need to call the bank. Today is Sunday, so three days ago was probably Friday (or Thursday depending on how you count the days). Banks normally don't post transactions on weekends - and transactions that do happen on the weekend sometimes don't get posted until Tuesday. I would give it till Tuesday a...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Paid credit card bill, but money didn't leave my checking account [duplicate]	This is normal for credit cards. As long as you make the credit card company's cutoff time, they will make the funds available on your credit card rather than make you wait for them to actually get the funds from your bank. The amount of time this takes actually can vary significantly from bank to bank. You do want to...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Money Structuring	"See ""Structuring transactions to evade reporting requirement prohibited."" You absolutely run the risk of the accusation of structuring. One can move money via check, direct transfer, etc, all day long, from account to account, and not have a reporting issue. But, cash deposits have a reporting requirement (by the ba...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Money Structuring	There's a difference between your street level drug dealer sending you sales proceeds of $20,000 in $5,000 increments to avoid sending you $10,000 or $20,000 at once to avoid the scrutiny of a government agency that might not be thrilled with your business venture, and a tire shop paying a wholesaler $5,000 each time f...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Money Structuring	Structuring, as noted in another answer, involves breaking up cash transactions to avoid the required reporting limits. There are a couple of important things to note. And, the biggest caveat - there have been many cases of perfectly legitimate transactions that have fallen foul of the reporting requirements. One ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Money Structuring	In the Anti-Money Laundering World ( AML) , structuring consists of the division ( breaking up) of cash transactions, deposits and withdrawals, with the intent to avoid the Currency Transaction Reporting ( CTR) filings. In your case the issue is not structuring but the fact that you have another person ( unknown to th...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	"First I would like to say, do not pay credit card companies in an attempt to improve your credit rating. In my opinion it's not worth the cash and not fair for the consumer. There are many great resources online that give advice on how to improve your credit score. You can even simulate what would happen to your score...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	Great question. First, my recommendation would be for you to get a card that does not have a yearly fee. There are many credit cards out there that provide cash back on your purchases or points to redeem for gift cards or other items. Be sure to cancel the credit card that you have now so you don't forget about that y...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	"I answered a similar question, How will going from 75% Credit Utilization to 0% Credit Utilization affect my credit score?, in which I show a graph of how utilization impacts your score. In another answer to Should I keep a credit card open to maintain my credit score?, I discuss the makeup of your score. From your ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	In addition to the already good answers: I am assuming you are playing a long game and have no specific need for a high credit score in the next couple of years. This list is just good practice that will raise you score.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	"Or here's a better idea: don't have a credit card at all. They offer no real benefits and plenty of dangers. Don't take my word for it, though: ""I tell every student class I get, high school students, university students, you know, they'd be better off if they never used credit cards"" - Warren Buffet (Net wo...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	If you have self control and a good handle on your finances, which it sounds like - I suggest the following: Note: #3 is important - if you're not able to pay it off each month don't do this because it will cost you a lot in interest. Make sure to check how interest is calculated in case you don't pay it off in full or...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?	Most business credit cards do not report to the personal credit report unless the person pays the card late. Given that fact, any debt carried on these cards does not hurt the credit score if it is not reported. You can carry credit card debt on these cards without hurting your credit score. Just apply for business cre...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Optimal way to use a credit card to build better credit?
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Is it legal for a vendor to reuse credit details from a previous transaction	It is very much legal and in fact depending on the fine print of the purchase you make, you have now established a business relationship among which gives the business the right to hold on to your information (unless privacy policy states otherwise) and reuse it under certain circumstances (such as auto shipments) and ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: car loan but 2 people on title	Yes, but then either of you will need the other's permission to sell the car. I strongly recommend you get an agreement on that point, in writing, and possibly reviewed by a lawyer, before entering into this kind of relationship. (See past discussions of car titles and loan cosigners for some examples of how and why th...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How is income tax calculated in relation to selling used items?	If the items you sold are items you previously bought for a higher price, the money you get selling them is not income, as you are taking a loss. However, you cannot deduct such losses. If you sell anything for more than what you paid for, the difference is a gain and is taxable. See this IRS web site for the explanati...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How is income tax calculated in relation to selling used items?	If I sell it for $50 can I write off the $50 loss. Only if you can establish that it is a normal part of your business and that you did not get $50 worth of use out of it. That's the technical, legal argument. As a practical matter, it's unlikely that they'll ding you for selling something after using it, as they won...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How is income tax calculated in relation to selling used items?	Yes. This income would be reported on schedule SE. Normally, you will not owe any tax if the amount is less than $400. Practically, $100 in a garage sale is not why the IRS created the form SE. I wouldn't lose sleep over keeping track of small cash sales over the course of a year. However, if you have the information ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What's the most conservative split of financial assets for my portfolio in today's market?	Before investing, absolutely follow the advice in mbhunter's answer. There is no safe investment (unless you count your mattress, and even there you could find moths, theives, or simple inflation taking a chunk out of your change). There is only maximizing your reward for a given level of risk - and there is always ri...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What's the most conservative split of financial assets for my portfolio in today's market?	This is a somewhat complicated question because it really depends on your personal situation. For example, the following parameters might impact your optimal asset allocation: If you need the money before 3 years, I would suggest keeping almost all of it in cash, CDs, Treasuries, and ultra safe short-term corporate bo...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What's the most conservative split of financial assets for my portfolio in today's market?	You don't say your level of consumer debt. You don't say how much of an emergency fund you have. If you have debt, pay it off before you invest. If you don't have an emergency fund (X months' expenses, pick your own X) get that before investing. If you have neither, get a small emergency fund, and then throw as much ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What's the most conservative split of financial assets for my portfolio in today's market?	"If you can afford the time and are looking for more deep, and fun, investment tips, check out http://gurufocus.com. Great for more fundamental analysis of ""Intelligent Investor"" type Benjamin Graham-style businesses. No use scatter-shooting the stock exchange hoping to find good value businesses. Even blue-chips ha...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What's the most conservative split of financial assets for my portfolio in today's market?	The safest place to put money is a mixture of cash, local municipal bond funds with average durations under two years and US Treasury bond funds with short durations. Examples of good short term US municipal funds: I'm not an active investor in Australian securities, so I won't recommend anything specific. Because rat...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	They might not have to open accounts at 12 bank because the coverage does allow multiple accounts at one institution if the accounts are joint accounts. It also treats retirement accounts a separate account. The bigger issue is that most millionaires don't have all their money siting in the bank. They invest in stocks,...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	"Rich people use ""depositor"" banks the same way the rest of us use banks; to keep a relatively small store of wealth for monthly expenses and a savings account for a rainy day. The bulk of a wealthy person's money is in investments. Money sitting in a bank account is not making you more money, and in fact as Kaushik ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	I found out there is something called CDARS that allows a person to open a multi-million dollar certificate of deposit account with a single financial institution, who provides FDIC coverage for the entire account. This financial institution spreads the person's money across multiple banks, so that each bank holds les...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	Most people who have over $250,000 in liquid cash savings would not want to start putting their money into regular savings accounts in different banks, especially with interest rates as ridiculously low as they are now in 2014-15. People with money will want to diversify their investments in ways that will potentially...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	Even assuming hypothetically that you are able to split money in different bank accounts to get full coverage and all your accounts are in top ranking financial institutions in USA, you can not rely on FDIC if all or most of those banks go broke. Because FDIC just has a meagre 25 billion dollars to cover all bank accou...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	The FDIC has been pretty good at recovery lost money from failed banks. The problem is the temporary loss from immediate needs. The best thing for anyone to do is diversify in investments and banks with adequate covered insurance for all accounts. Immediate access to available cash is always a priority that should be g...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?	With a lot excess cash you eventually have two goals: Since interest on cash bank deposits does not exceed inflation and you have currency risk, you may want to get into other asset classes. Options that might be, but not limited to are:
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Tax implications of having some self-employment income?	"You would put your earnings (and expenses, don't forget) on Schedule C, and then do a Schedule SE for self-employment tax. http://www.irs.gov/businesses/small/article/0,,id=98846,00.html 1040ES isn't used to compute taxes, it's used to pay taxes. Generally you are supposed to pay taxes as you go, rather than when you ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Tax implications of having some self-employment income?	Havoc P's answer is good (+1). Also don't forget the other aspects of business income: state filing fees, county/city filing fees, business licenses, etc. Are there any taxes you have to collect from your customers? If you expect to make more this year, then you should make estimated quarterly tax payments. The first...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can an International student of F1 VISA accept money in her US bank account on behalf of someone else?	There might be a problem. Some reporting paperwork will have to be done for the IRS, obviously, but technically it will be business income zeroed out by business expense. Withholding requirements will shift to your friend, which is a mess. Talk to a licensed tax adviser (EA/CPA) about these. But the immigration may con...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Found Mistake on 2013 1120S Form	"I don't know if it's common or necessary to include capital stock as a liability? Yes, if you look at the title of the nonasset part of the balance sheet it actually is titled ""Liabilities and Shareholders' Equity"". Your capital stock is a component of Equity. This sounds like it was reported in a reasonable manne...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Why Are Credit Card Rates Increasing / Credit Limits Falling?	Because people are going deeper into debt and filing for bankruptcy more often, there is more risk on behalf of the credit company. Therefore, they limit their risk by lower limits and increasing interest. For every person that goes bankrupt, there might be 10 that pay that new higher interest rate, thereby netting a ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Why Are Credit Card Rates Increasing / Credit Limits Falling?	Of course your situation is very hurtful at a personal level, and I sympathize. I just don't get your point about being driven further into debt? It would seem that with a lower credit score you are prevented from taking on more debt. That can absolutely be hurtful especially to someone who runs a business that relies ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Does dividend on 401K have any effect on gains	Adjusting for a market change from day to day, the dividend should have no impact on you. Your X shares time $Y should be nearly identical right after that dividend hits the account. And within the 401(k) or IRA for that matter, the accounting doesn't matter most of the time. Outside a retirement account, you need to ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Does dividend on 401K have any effect on gains	It appears from your description that the 401k account has the automatic dividend reinvestment policy, and that the end result is exactly the same as the external account with the same policy. I.e.: no difference, the dividend affected the 401k account in exactly the same way it affected the external account. The only ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Why an inner suburbs small apartment considered a risky investment	The banks see small apartments as a higher risk because usually very small apartments are harder to sell, especially during a falling market when there is an oversupply of these apartments. The price of small apartments will also fall a lot quicker in a falling market. Regarding yield vs capital growth - the emphasis h...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Might it make sense not to look into debt that is in collections?	"It's your business to pay what you owe but it's not your business to determine what you owe. The ""Fair Debt Collections Practices act"" FDCPA proscribes certain steps creditors must go through to contact you. You appear to not have received any active contact or demand, but you can still cite the FDCPA to make it t...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What do I need to do to form an LLC?	I know that there are a lot service on the internet helping to form an LLC online with a fee around $49. Is it neccessarry to pay them to have an LLC or I can do that myself? No, you can do it yourself. The $49 is for your convenience, but there's nothing they can do that you wouldn't be able to do on your own. What I ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What do I need to do to form an LLC?	"You can file an LLC yourself in most states, although it might be helpful to use a service if you're not sure what to do to ensure it is correct. I filed my LLC here in Colorado online with the Secretary of State's office, which provided the fill-in-the-blank forms and made it easy. In the U.S., taxation of an LLC is...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?	Wow! First, congratulations! You are both making great money. You should be able to reach your goals. Are we on the right track ? Are we doing any mistakes which we could have avoided ? Please advice if there is something that we should focus more into ! I would prioritize as follows: Get on the same page. My first re...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?	The biggest issue is your lack of diversification. Your real estate investments have performed quite well so far, but you have also likely enjoyed a period of unprecedented growth that is not sustainable. In the long term, stocks have always outperformed real estate investments, which tend to track more closely to the...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: If I have some old gold jewellery, is it worth it to sell it for its melt value?	Get your jewelery appraised. (Don't let whoever does the appraisal be the same person whom you would sell it to.) Logically jewelery must be worthy more than the raw gold that makes it up because somebody took the time to design patterns and do specialty craft to the metal.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: If I have some old gold jewellery, is it worth it to sell it for its melt value?	I have a buddy that used to run one of those companies that buys gold like the ones you see on TV. Here's the deal... 1) If the jewelry isn't total junk, get it appraised. Making raw materials into jewelry obviously increases the value since you can't buy jewelry for the price of raw gold. In many cases it will be wort...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: If I have some old gold jewellery, is it worth it to sell it for its melt value?	"I just came across an article from the CBC on this subject: Here's one tip from the article, which echoes what others have said: ""The agency [Better Business Bureau in B.C.] suggests getting two or three appraisals from a jeweller or jewelry store before deciding to sell."" See the full article for the rest of the ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: If I have some old gold jewellery, is it worth it to sell it for its melt value?	Avoid gold brokers who do business through the mail. Video Full Article
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Why is there some latency between the time a check deposit was processed and when one can withdraw the money on Fidelity CMAs?	Every bank and credit union in the US has a Deposit Agreement and Disclosures document, Bank of America is no different. Our general policy is to make funds from your cash and check deposits available to you no later than the first business day after the day of your deposit. However, in some cases we place a hold ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: I'm getting gouged on prices for medical services when using my HSA plan. How to be billed fairly?	The big difference for me under the High deductible plan has been that instead of paying the co-pay, now I am now responsible for the negotiated rate until I reach the deductible limit. The HSA is only a way to funnel medical payments through a tax free account the insurance company and the doctor don't care about the ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: I'm getting gouged on prices for medical services when using my HSA plan. How to be billed fairly?	"I had an HSA for two or three years. I found very routinely that my insurance company had negotiated rates with in-network providers. So as I never hit the deductible, I always had to pay 100% of the negotiated rate, but it was still much less than the providers general rate. Sometimes dramatically so. Like I had some...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: I'm getting gouged on prices for medical services when using my HSA plan. How to be billed fairly?	First, as noted in the comments, you need to pay attention to your network providers. If you are unable to pay exorbitant prices out of pocket, then find an in-network medical provider. if you are unhappy with the in-network provider list (e.g. too distant or not specialists), then discuss switching to another plan o...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: 18 year old making $60k a year; how should I invest? Traditional or Roth IRA?	"1) Usually, the choice between Traditional vs. Roth is whether you believe that your tax rate will be higher or lower in the future than it is now. Your income is probably in the 25% bracket now. It's hard to say whether that should be considered ""high"" or ""low"". Some people advocate Roth only for 15% bracket; but...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: 18 year old making $60k a year; how should I invest? Traditional or Roth IRA?	With this level of income, you might consider a Solo 401(k). It would allow you a much higher level of contributions and is more appropriate for your savings than the limited IRA deposits. It also offers a considerable number of options not available for IRAs. A loan for example.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: 18 year old making $60k a year; how should I invest? Traditional or Roth IRA?	"In asnwer to your questions: As @joetaxpayer said, you really should look into a Solo 401(k). In 2017, this allows you to contribute up to $18k/year and your employer (the LLC) to contribute more, up to $54k/year total (subject to IRS rules). 401(k) usually have ROTH and traditional sides, just like IRA. I believe the...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How are the $1 salaries that CEOs sometimes take considered legal?	"Part of your first link has this statement that I suspect you are missing: However, Section 13(a)(1) of the FLSA provides an exemption from both minimum wage and overtime pay for employees employed as bona fide executive, administrative, professional and outside sales employees. Note that executive is in that list...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How are the $1 salaries that CEOs sometimes take considered legal?	"Even under the executive exemption, see Exemption for Executive Employees Under the Fair Labor Standards Act (FLSA) Section 13(a)(1) as defined by Regulations, 29 CFR Part 541, it seems that a minimum compensation is required. To qualify for the executive employee exemption, all of the following tests must be met: The...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How are the $1 salaries that CEOs sometimes take considered legal?	"Taxable fringe benefits are included in taxable wages for the purpose of FLSA. So when those executives get to use company cars or company jets that value is ""wage"" even if it isn't salary."
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How hard for US customers make payments to non-resident freelancer by wire transfer?	"Can you tell me please, is it really hard to make international wire transfer for payment my job and can i resolve this problem without using third party services? This is mostly a barrier, the form at times is quite complicated. For Russia, one has to enter ""Purpose of remittance"" ... at times select intermediate b...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How hard for US customers make payments to non-resident freelancer by wire transfer?	For most major banks, wire transfers are simple, if expensive, to arrange. For example, I can initiate an international wire transfer from my online banking portal.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How hard for US customers make payments to non-resident freelancer by wire transfer?	I would look for an alternative wire transfer service that will charge less. I use ofx, but note that they don't do transfers to roubles. The rate adjusts by amount being transferred and there is a $15 fee for under $5000. Upside is it is bank-to-bank. 2 days tops.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How hard for US customers make payments to non-resident freelancer by wire transfer?	"You are right in insisting upon a proper B2B contract in any business relationship. You wish to reduce your risk and be compensated fairly. In addition to the cost and complexity of international wire transfers, the US companies may also be considering the fact that as an international contractor in a relatively hard-...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	While technically true, a card issuer can cancel your card for almost any reason they want, it's highly unlikely they'll cancel it because you pay your bills! There are many, many people out there that pay their bills in full every month without ever paying a cent in credit card interest. I wouldn't ever purposefully i...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	Remember, the card company gets a percentage at the time of purchase, as well as any interest you let them collect from you. Yes, they're still making a profit on our accounts, and they can always hope that at some point we'll run up a high enough bill to be willing to pay some interest. They may kill completely inacti...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	Credit card companies are businesses. Businesses will make any decision that makes them money. So does it make them money to cancel your account? It's a simple cost-benefit analysis: you having an account with them will probably give them some benefit for very little cost to them. The only real cost associated with an ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	"I would think it extremely unlikely that an issuer would cancel your card for having an ADB of approximately zero. The issuer charges the vendor that accepts a card a percentage of the transaction (usually up to ~3%, AMEX is generally higher) - so they are making money even if you carry no balance on your card (the sp...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	"Speaking from personal experience: I have had a credit card canceled for exactly this reason. It's happened to me three times, with two different providers (NatWest and Nationwide). After the third instance I stopped bothering to even carry a credit card. It's worth noting that all three were ""free"" cards in the sen...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	Technically, yes but, in practice, no. I use a card for everything and pay it off every month. Sometimes, several times a month depending on how the month is going. In the last 10 years, I've paid a total of $8 in interest because I legitimately forgot to pay my balance before the statement came out when I was out of ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	"When you buy something with your credit card, the store pays a fee to the credit card company, typically a base fee of 15 to 50 cents plus 2 to 3% of the purchase. At least, that's what it was a few years back when I had a tiny business and I wanted to accept credit cards. Big chain stores pay less because they are ""...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	No, they won't cancel it because you pay your card on time. When a company offers a promotion like that they are banking on making money on average, not in every case. On average including all the benefits including transaction fees, deals for partnering with best buy, etc. Of course some people pay their credit car...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	Credit card merchant fees are $0.15 - $0.40 per transaction plus 1.5-4% of the amount charged. Card issuers are competing to get to be the card in your pocket that you use on a daily basis. If you were a card issuer, wouldn't you like to get 1.5-4% of every transaction I make for the rest of my life? As a side note, ev...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	Some years ago a call center operator told me a bit more than they probably should have. They like to see a lot of money go through the card, but very little staying on the card. Yes, they make money on the interest but one card defaulting blows away the profit on a lot of other cards. The 3% take from the merchants i...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Will a credit card issuer cancel an account if it never incurs interest?	I've got a card that I've had for about 25 years now. The only time they charged me interest I showed it was their goof (the automatic payment failed because of their mistake) and they haven't cancelled it. No annual fee, a bit of cash back. The only cards I've ever had an issuer close are ones I didn't use.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can LLC legally lend money to a friend?	"One thing I would add to TTT's answer: One of the benefits of using an LLC for your business is right there in the name - ""limited liability"". It provides a level of protection for your personal assets should your business go bankrupt, get sued, and so forth. However, if someone can show that there's no real separat...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can LLC legally lend money to a friend?	Legally, I can't find any reason that the LLC could not lend money to an individual. However, I believe the simplest course of action is to first distribute money from your company to your personal account, and then make it a personal loan. Whether the loan is done through the business or personally, financially I don'...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can LLC legally lend money to a friend?	I can't say if there is anything specific that makes lending illegal, but if your company goes bankrupt, you might end up in trouble. First, it's a loan. It must be repaid. It must be in the books as a loan, and if your company couldn't pay its bills, you would have to ask for the money back. If the company goes bankr...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can LLC legally lend money to a friend?	"The answer to your question is...it depends. Depending on the state you, your friend, and the LLC are located in, it can be very easy to run afoul of state banking laws, or to somehow violate some other statute pertaining to the legal activities an LLC may undertake by doing something like a loan. It is not unusual (...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Can LLC legally lend money to a friend?	Tax accountant here. The money is yours and you can do what ever you want with it. Just make sure to put it on the books as Loan Receivable and have an Interest Income account.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	I actually had to go to the bank today and so I decided to ask. The answer I was given is that a check is a legal document (a promise to pay). In order to get your money from the bank, you need to sign the check over to them. By endorsing the check you are attesting to the fact that you have transferred said document...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	"The best reason for endorsing a check is in case it is lost. If the back is blank, a crooked finder could simply write ""pay to the order of "" on it and deposit it in his own account. You do not need a signature for the endorsement. The safest way to endorse a check is to write ""FOR DEPOSIT ONLY"" followed by an acc...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	In my experience, you don't need to endorse a check with a signature to deposit it into your account. You do if you are exchanging the check for cash. Businesses usually have a stamp with their account number on them. Once stamped, those checks are only able to be deposited into that account. Individuals can do the...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	Paper trail of who did the deposit. Less significant for a personal account, but a bigger deal for accounts that are used by multiple people (e.g. a corporate checking account).
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	So the bank can (theoretically) compare that signature to the ID you provide, showing that the names and signatures match and that you are the person to whom the check was written.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	"I believe the banks are protecting themselves when they ""require"" your endorsement. Years ago. they used to ask for your endorsement, and not require it. If you endorse the check, it legally authorizes them to debit your account, if the check is later returned for non-sufficient funds (NSF). It mostly protects the b...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: What is the purpose of endorsing a check?	When the check is deposited, the bank verifies the signature in the check matches your signature in file.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Credit card statement dates follow pattern?	My guess: they are giving you a constant number of days between when the bill is sent and when it is due. Due dates are usually set either: same date each month IE the 3rd of each month. same day IE first thursday of the month. Note: due date might vary based on weekends. Number of days in the month - date on bill sh...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Credit card statement dates follow pattern?	Check with your bank, usually a statement is either at the same day of month (e.g.: every 15th of the month), or every 30 days (e.g: March 15th, April 14th, May 14th, so forth). From my experience, most credit cards use the same day of month strategy. Keep in mind that if the day is not a business day (e.g.: weekend), ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Credit card statement dates follow pattern?	Each bank is different. Usually in my experience for newer credit card accounts, there is a specific number of days in a billing cycle (something like 28) and then a 20-25 day grace period. Older accounts usually have 30+ day billing cycles. Back in the 90's, many cards also had 30-40 day grace periods. The language sp...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	Cash is king. PIN-based debit transactions are cheap. In terms of credit cards, a regular (ie. not a gold card) with no rewards has the lowest rates. Bigger merchants with lots of card volume likely have better deals that make the differences less pronounced.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	Please don't waste any more time feeling bad for merchants for the charges they incur. I don't know who supported the lobby for this rule, but issuers no longer can demand that merchants accept all transactions (even the unprofitable ones). I discussed this at length on my blog. Merchants accept credit cards for one r...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	Accepting cash isn't free to the merchant's either. It needs to be counted, reconciled, stored, and taken to the bank each day. There is a certain amount that needs to be on-hand, not in the bank earning interest. There is more of a worry about employees taking cash from the register. There is the chance of inadvert...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	From experience, Mastercard and Visa charge vendors about the same (around 2%-5%) while American Express and Diners Club are astonishingly expensive (6%-10%) and you'll find that few small retailers are very comfortable accepting these. The variation comes from the volume of trade that vendors provide. A big retailer ...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	Back when they started, Discover undercut Visa and Amex fees by about a point. This was also true when I worked for a mail-order computer retailer in the '90s: if a customer asked us which credit cards we took, we were told to list Discover first (and AmEx last) because Discover had the lowest merchant charges. Possibl...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: Which credit card is friendliest to merchants?	Merchants that accept American Express should have decided that the extra costs are worth the increased business (many business travelers only have an Amex Corporate Card). To complain about people actually using it after they've explicitly decided to accept it is a sign that they made the wrong decision, or that they...
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How to properly collect money from corporate sponsors?	http://www.legalzoom.com/business-management/starting-your-business/turn-your-calling Answering this, but I expect an expert to give an answer with some insight too There are many more steps, but not having done them personally I suggest you read the legalzoom.com site.
Instruct: Given a financial question, retrieve user replies that best answer the question Query: How to properly collect money from corporate sponsors?	If this is something you plan to continue doing it would make sense to create it as it's own business entity and then to get non-profit status eg: 501c3. Otherwise I'm pretty sure you have to think of it as YOU receiving the money as a sole proprietor - and file a couple more tax forms at the end of the year. I think...

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