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If you owe tax, how does the IRS failure-to-file penalty work? |
If you owe tax, how does the IRS failure-to-file penalty work? |
Can I take money from my employee stock and put it towards another stock? |
Can I take money from my employee stock and put it towards another stock? |
The question is for your HR department, or administrator of the plan. How long must you hold the employee shares before you are permitted to sell? Loyalty to your company is one thing, but after a time, you will be too heavily invested in one company, and you need to diversify out. One can cite any number they wish, 5%... |
The benefits and taxes thing, in my opinion is the biggie.
Most people don't realize that the cost to the company for a full-time employee with benefits can be 2x or even 3x the amount you they see in their paycheck. Health plans are extremely expensive. Even if you are having money taken from your check for health... |
Maybe I've just had bad luck, but the four CPAs I've met so far with have been morons.
The first one I found on superpages and he couldn't help me set a structure for my LLC. Didn't know what paperwork to file, how often they pay taxes, and told me to register the LLC in Montana. The next I met on craigslist (whoops... |
Finding a good small business CPA? |
A common trend by many governments has been to introduce a Value Added Tax to replace a Sales Tax (as evidenced by the multitude of HST related questions on this site). How do these types of taxes differ? Are they better for business? Does the government get more or less from each system? Is one system worse for th... |
How does a Value Added Tax (VAT) differ from a Sales Tax? |
[In relation to this question about maximum amounts a check can be written for][1]
If I sell something like a car or other expensive item on Craig's List or in the local paper classifieds, am I compelled to accept any form or payment?
Can I refuse cash and demand a bank check? Can I refuse a check and demand cas... |
What forms of payment am I compelled to accept? |
I just listened to a podcast on this topic this week, and Satanicpuppy is pretty much correct. If you are interested, here is a link to the podcast on Legal Lad: [Can Businesses Refuse to Accept Cash?][1]
[1]: http://legallad.quickanddirtytips.com/legal-tender.aspx |
I am a US permanent resident for several years now.
My family resides overseas and are not-US persons - they visit on tourist visas. They have bank accounts here in the US.
I am planning to buy my first house and want to use family money that has been saved for that purpose in our home country, amounting to 100k... |
What are the US gift tax rules for gifts from non-US persons? |
Long story short, five years ago I opened (and became administrator of) a corporation for a friend (he was in bankruptcy). I recently "reacquired control", only to discover no GST was ever paid, no income taxes paid, nothing filed, etc even though the company had revenues of 400-500k a year. Most of the money went to m... |
What questions to ask a prospective employer when receiving a job offer? |
What questions to ask a prospective employer when receiving a job offer? |
How does mint.com connect to online banks in order to get or download banking transaction data?
Do banks have a standard mechanism for mint.com to connect, or is mint.com simulating a real person logging in and using the online banking site? |
How does mint.com connect to online banks in order to get or download transaction data? |
There are many, given that this is a financial site, relevant questions would include (presuming they are not spelled out):
- Pay, overtime policy and regular working hours
- For some jobs - what are the on-call requirements, how is that compensated
- The generalities of the benefit plan (is there one)
- Ho... |
- If there is a retirement / pension or other type of investment plan.
- What kind of plan is it? How is money added to the plan?
- When are you eligible for the plan?
- What types of matching, if any, are available?
- When are you fully vested in the plan?
- If there are stock options, what are the re... |
We want to refinance; currently at 6% on a 30-year fixed. We are unsure how long we will be in the house but assuming at this time we will want to move within 7 to 10 years. We are offered a 3.75% variable (7-year ARM) with low closing costs. We have a relatively low mortgage (under 175k). I am the sole breadwinner an... |
I have 20k in my emergency fund, which is about twice what I planned having in there. I think I can safely invest half of that in something better than the ING savings account it's currently in.
I used to think that an S&P 500 Index fund was the way to go for a no-thought investment, but now (after the latest bubbl... |
Since this is your emergency fund, you generally want to avoid volatility while keeping pace with inflation.
The simplest thing to do would be to shop around for a different savings account. There are some higher-yields out there. Bankrate is a good place to search.
The "traditional" places to keep an emergency... |
Since this is your emergency fund, you generally want to avoid volatility while keeping pace with inflation. You really shouldn't be looking for aggressive growth (which means taking on some risk). That comes from money outside of the emergency fund.
The simplest thing to do would be to shop around for a different... |
In Canada banks are referred to as tier 1 and tier 2. What are the differences between them? What services are they allowed to offer and not offer? Are all covered by the CDIC? |
What is the difference between the different types of bank in Canada? |
can i (a 13 yr old) buy SUPPLIES for a cat by myself with no parent there ?
or do i have to bring my older sister ( an 18 yr old) with me to get them ?
or do my parents have to go with me ? |
can i (a 13 yr old) buy SUPPLIES for a cat by myself with no parent there ?
or do i have to bring my older sister (an 18 yr old) with me to get them ?
or do my parents have to go with me ? |
I'm 13. Can I buy supplies at a pet store without a parent/adult present? |
Many jewelery stores around here offer a warranty on ring purchases. For example a $2000 ring might cost $250. The deals offer free repair, cleaning, maintenance and sometimes replacement and vary a little in cost and coverage, but they are mostly the same.
Is it a good deal, or is it like a warranty on anything ... |
Related to this question:
[http://www.basicallymoney.com/questions/209/if-i-have-some-old-gold-jewellery-is-it-worth-it-to-sell-it-for-its-melt-value][1]
What is some good advice for getting a piece appraised? Who is a typically trustworthy source to get jewelery appraised?
[1]: http://www.basicallymoney.com/... |
How to sell jewelery without getting ripped off? |
What's the best website to use to find the latest and best CD rates in the US? |
I'm buying a home from a develpoer, and I qualify for the first time homebuyer rebate. I'm wondering how Ontario's HST rebate for first time homebuyers is calculated.
The paragraph below is taken from http://www.rev.gov.on.ca/en/notices/hst/02.html and I thought I'd check with you financial gurus, because its not e... |
Related to this question:
[If I have some old gold jewellery, is it worth it to sell it for its melt value?][1]
What is some good advice for getting a piece appraised? Who is a typically trustworthy source to get jewelery appraised?
[1]: http://www.basicallymoney.com/questions/209/if-i-have-some-old-gold-jewe... |
Apart from the reasons given above, wouldn't a good reason to take the loan from the bank be to build up a credit history and/or improve your credit score? |
Apart from the reasons currently given (which have to do with personal relations), wouldn't a good reason to take the loan from the bank be to build up a credit history and/or improve your credit score? |
I'm fully contributing to my Roth IRA every year into a brokerage account that is 100% in mutual funds.
I've done basic mutual fund research and picked about 5 different funds that match what would be considered an appropriate allocation for where I am now in my life, and how long till I retire. I plan to re-balance... |
I've been looking at mortgage products such as Manulife One - which work like a line of credit based on the equity in your home. The monthly payment is the interest on the amount left owing every month. The more you pay down, the smaller your monthly payments become. The bonus is you can take money out of the account f... |
Home office deduction with a line of credit mortgage (e.g. Manulife One)? [Canada] |
Ontario HST: How to calculate new homebuyer's HST housing rebate? |
In Minnesota, based on the [this website][1], I believe that anything that is deductible for federal income taxes is deductible for the Minnesota State income tax.
*What is federal taxable income (FTI)?*
> Federal taxable income is the tax base
> used to calculate federal income tax
> liability. It is also the ... |
Based on financial conversations I've had with trusted family members, I believe that asset allocation is one of the more critical things to "get right" during retirement savings.
Based on an aggressive investing portfolio and timeline, where can I find more information about what asset allocation is right for me? ... |
What is the best asset allocation, and why? |
Gifting up to $13,000/year (as of 2009) to someone is not subject to gift tax.
http://en.wikipedia.org/wiki/Gift_tax_in_the_United_States
Assuming that the individual receiving the money is older than 25 (cannot be claimed as a dependent), what options are there if more than $13,000 needed to be given to this ind... |
I was in a car accident 4 years ago. I had gone to a settlement lender for a small amount after my income benefits were cut off. I guess I missunderstood how the interest was calculated and found out my payout today. I borrowed 2000 x 2 , 3 yrs ago and 1000.00-2 yrs ago, so total 5000.00, my payout is just shy of 1... |
Should I put money in both a ROTH and Traidiitonal IRA? |
[Mint.com][1] has languished for years ([over three now][2]) in not supporting Canadian banks. Given that we only have a few, you would think it to be a small amount of work.
**Update: Mint.com now supports Canadian banks! You just need to enter a zip code to create your account.**
Which online banking sites (apa... |
What makes CVLI either good or bad? If you get it while young (~23 years old) and have a respectable starting salary then what are some benefits or detriments to having it?
The specific policy I'm talking about is from Northwestern Mutual.
Is it a bad idea to think of this as an investment? If so, is it a good or... |
When is Cash Value Life Insurance a good or bad idea? |
Let's list the best software for personal finance? |
My wife will be receiving an inheritance from her Uncle's estate. What are the federal tax implications? |
How is an inheritance taxed in the United States? |
I might want to move the money in my 401k into my current country of residency. Can I do this without incurring penalties? |
Can I move my 401k to another country without paying tax penalty? |
Should I put money in both a ROTH and Traditional IRA? |
Correct me if I'm wrong. I understand that when I open a mortgage loan, some underlying bond is issued and purchased by some investors. When the rate is much lower and I refinance and close my previous loan, what happens behind the scenes? Is the underlying security closed at the same time? Or was it changed hands? |
When I pay off my mortgage loan, what would really happen? |
I'm in my 20's. I'm a big saver and I think I've covered the basics, including:
- Paying off all high interest (>3%) debt.
- Getting the full company match out of my 401k.
- Maxing out my Roth IRA for the year.
I still have a decent amount of cash flow, so my savings account is starting to grow rather large ... |
How to invest after 401k and Roth IRA are maxed? |
The standard answer I have heard is that if you were to purchase term life insurance and invest the difference between the cost of the policies, your investments would grow larger than the cash value of the insurance. Also when you take cash out of CVLI the insurance value drops by a like amount. So you can't have your... |
What is the biggest benefit of being an [AARP][1] member?
[1]: http://www.aarp.org/ |
What is the most beneficial aspect of being an AARP member? |
How would one decide which is most appropriate? Are there tax or benefits differences that one offers over the other? |
What's the difference between Term and Whole Life insurance? |
An estate planning attorney passed me [this article on New York Times][1]. For people who know about this stuff, how do I know if I really need this coverage before I am talked into it by a salesperson? I'm middle class but don't consider myself wealthy.
[1]: http://www.nytimes.com/2008/03/18/business/businesssp... |
Who would need a Umbrella Coverage (insurance)? |
I have a 401k through my employer and I am wondering what good practices are for managing it. I know a lot of people set it and forget it for years and years. Is this a terrible thing to do?
How do you go about choosing which options you wish to participate in? |
I'm looking to develop a fixed-income account of bonds and dividend-paying equities. I've heard that bonds are susceptible to interest rate risk, but I don't really understand what that means.
What is interest rate risk, and what techniques do I use to minimize it?
Should I even be concerned about it if I plan to... |
Canada never used to have a "pay tax now, but don't pay tax later" investment option, until 2009 when the TFSA (Tax-Free Savings Account) was created. Is this fundamentally the same as a US Roth IRA? e.g. can I read American investment advice and mentally substitute "TFSA" when I read about IRAs? Is there any subtle... |
Is a Canadian TFSA the same as an American Roth IRA? |
What are the best credit cards if you pay off your bill every month? Which ones do you get the best benefits on? I currently have a Charles Schwab Visa where I get 2% cash back on everything. I also have a Discover Card where I get 1% cash back plus various other benefits. |
I missed the RRSP contribution deadline (March 2010) for the 2009 tax year. Consequently, my tax owing was much higher than it could have been. Is it possible to contribute to an RRSP and apply that contribution retroactively to a previous tax year, or do I have to claim it on my 2010 taxes? |
Can I retroactively contribute to an RRSP for a previous tax year? |
Between 6 months and a year is normally regarded as the "standard". Plan out what your monthly expenses are and save that money away. One thing to consider is **what extras can you give up**. If you are currently eating steak and lobster every day can you live with switching to ramen noodles for a period of time? C... |
I've seen the term "CD Laddering". What is this and what are the benefits and risks of doing it? |
What is CD laddering and what are it's pros and cons? |
What is the best way to determine if you should refinance a mortgage? Is there a general rule of them as far as difference in interest rates? I know closing costs are also a factor. Is there a good way to determine this without asking a mortgage banker? |
What is the best way to determine if you should refinance a mortgage? |
What are the best credit cards if you pay off your bill every month? Which ones do you get the best benefits on? I currently have a Charles Schwab Visa where I get 2% cash back on everything. I also have a Discover Card where I get 1% cash back plus various other benefits.
Is it better to get cashback, miles, or ... |
If you are looking for an index index fund, I know vanguard offers their [Star fund][1] which invests in 11 other funds of theirs and is diversified across stocks, bonds, and short term investments.
[1]: https://personal.vanguard.com/us/funds/snapshot?FundId=0056&FundIntExt=INT |
Lets say I got monthly credit card bill for $100 but when I go to bank account online to pay I see that my current credit card spendings are already $150. Should I pay $100 or $150? |
What impact does overpaying credit card bill have on credit score? |
My employer allows me to contribute a certain percentage of my salary to my 401(k). My employer will also match a certain portion of my percentage. How much should I invest in my 401(k)? Should I invest the maximum or should I invest less and use the money to invest outside of my 401(k)? |
How much should I contribute to my 401(k)? |
On bank's site it says:
>* Conventional mortgage: means your downpayment is at least 20% of the purchase price.
* High-ratio mortgage: means your downpayment is less than 20% of the purchase price.
>High ratio mortgages must be insured by a third party such as the Canada Mortgage and Housing Corporation (CMHC) ... |
What is the difference in payments and ratios between High-ratio and Conventional mortgages? |
We're looking into refinancing from a 30 year mortgage at 5.5% (currently 23 years left) to a 20 year mortgage at 4.5%. Buying points will reduce the rate somewhat, but since we don't have extra money to buy them, the price will be rolled into the mortgage. Is it better to buy the points and reduce the rate? |
Should I buy points on my mortgage? |
If you can afford to put money in your 401(k) account, I would say at least you should invest enough to get your employer's matching fund. Is free money, why not get it? |
In planning out a budget, what is a realistic amount to budget per person for food expenses per month? |
How much is a typical food budget per person? |
The United Kingdom Individual Savings Account (ISA) provides a tax-efficient saving mechanism. It is possible to transfer your ISA from one bank to another, but is there any limit on how many times you can jump to the bank with the best interest rate? |
Is there a limit on how many times I can transfer my Individual Savings Account (ISA) in a given year? [UK] |
Now that peer-to-peer sites like [Lending Club][1] and [Prosper][2] have matured are they viable options to add to my savings/investment portfolio or should I only use them with extra cash?
[1]: http://www.lendingclub.com
[2]: http://www.prosper.com/ |
Are peer-to-peer loans viable options for savings/investing? |
In planning out a budget, what is a realistic amount to budget per person for food expenses per month?
EDIT: Thanks to Ether's answer, here's a clarification: What guidelines or warning signs are there that we can use when planning out the food portion of our budget? I've seen guidelines for housing expenses, but... |
I'm interested in switching to an open source checkbook program. I currently use Quicken and I'm interested in switching to [GnuCash][1] but I have usability concerns.
Does GnuCash have all the features I'm used to in Quicken? Any noticeable differences?
Is GnuCash easy to use? How does it compare in usability... |
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