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Can dues and subscriptions expenses be deducted 100% to calculate taxable income in an LLC company?
"Random deposits" are a bit like playing the lotery - especially if one is frequently chasing "hot tips". You might make it big, but the odds are vastly against you. "Random" deposits into various investments won't be optimal, because such "random" decisions will not be properly diversified and balanced. Various i...
No magic answers here. Housing is a market, and the conditions in each local market vary. I think impact on cash flow is the best way to evaluate housing prices. In general, I consider a "cheap" home to cost 20% or less of your income, "affordable" between 20-30% and "not affordable" over 30%. When you start comp...
*Extended illness/disability that prevents you from being able to work.* **Edit:** > Leigh Riffel: So, why should this be expected, and how should it be planned for? Some of us may be fortunate enough that this never happens, but I've known enough unlucky people to have seen that it *can* and *does* happen. P...
The depot of private investors often consists of random securities, caused by tips of friends, banks and exchange newspapers. It is said that the ratio of risk and return cannot be optimal like this. Why? Edit: Actually Nathan gave exactly the answer I was looking for. I'm not a native English speaker, so it is kind...
Why are "random" deposits bad?
The deposits of private investors often consists of random securities, caused by tips of friends, banks and exchange newspapers. It is said that the ratio of risk and return cannot be optimal like this. Why? Edit: Actually Nathan gave exactly the answer I was looking for. I'm not a native English speaker, so it is k...
It seems like most countries restrict the citizens to the use of the government currency for exchanging goods. I'm not a world traveler so maybe there is a country where this is not the case. Does anyone know of one?
Are there any countries where citizens are free to use any currency for buying/selling of goods?
If you're looking for an alternative, HSBC also has an online only savings account that used to be called HSBC Direct, but is now called HSBC Advance. They offer high interest savings (currently 1.1%) with no minimum balance, CDs and give you an ATM card. I've been a satisfied customer for a few years. https://www.u...
Besides the long-term concern about which is cheaper, which has already been addressed by other answers, consider your **risk exposure**. Owning property has financial risks associated with it, just like owning stocks or bonds. The risk-related downsides of owning a home as an asset include: * It's often a very lar...
This prompts the question - who said this and what was their reasoning? There are times that property can rise with good cause, but it's usually local, not so widespread as to affect the whole country. In the US, for example, the bubble was more localized to certain areas. If there's that great an overvaluation, ...
I'm looking to start repairing my wife's credit on which she has several credit cards from before we were married. These debts are reaching the 7 year window where I've heard things "fall off" your credit. Is that really the case? Are these items charged off and written off on taxes by the companies and forgotten?...
Do things really fall off a person's credit in seven years?
Rather than using the Human Development Index or Ease of Doing Business, if you primary purpose is for investments, you need to consider the Country rating provided by various agencies like - Standard & Poors - Fitch - Moody's These would tell as to how good the country is for investment in general. Just to hi...
I have been saving for some time now with the aim of building up enough money to begin investment. But the problem is I keep withdrawing money with my debit card whenever i want to buy something. Would it be better if i just snapped the debit card in two, so that i can concentrate on saving, just as i did to my credit ...
Credit cards as bad as debit cards?
I was looking into money market funds and bond mutual funds for some relatively stable investments. Before I make decisions, though, can someone explain under what circumstances would I need to pay federal vs state vs municipal tax, and ways of minimizing those taxes?
How do I minimize Federal, State, and Municipal tax due from money market funds or bond mutual funds?
This sounds more like a behavioral than a debit card issue to me TBH. Did you put the money you're putting away into a separate savings account that you (mentally) labelled 'for investment'? That's pretty much what I do (and I have a couple of savings accounts for exactly that reason) and even though I *know* I've g...
I'm planning on paying the property taxes of a home my mother-in-law owns. She owns the house, but I live there. As part of the bargain, I agreed to pay the property taxes. If I write the check directly to the IRS, can I write it off on my year end taxes?
If I pay someone else's property taxes, can I use it as a deduction on my income tax return?
eBay listed the status as "paid" last Friday for some sales I'd made, and that it would be deposited to the bank account I have on file. It's Monday and I haven't seen any changes in my online banking account. Does it normally take a few days to process? Are these deposit "delays" dependent on the company deposit...
How long do direct deposits take to go through?
I'm thinking about signing up for my bank's online bill-pay service, but I'm concerned about putting someone in between me and my service providers. My questions: - Have you had any problems with bills not being paid? - If you had issues, were they addressed satisfactorily? - How much of a hassle is it to swit...
What are the drawbacks to using my bank's online billpay service?
If I understand correctly, you're actually asking why there isn't a society whose members generally accept/use any currency for transactions, and just like, Google the exchange rate or something. The answer is because it's exceptionally inconvenient. Can you imagine having a wallet with 200 pouches for all the differ...
It's a real pain in the rear to get cash only from a bank teller (the end result of cutting the card as suggested). There is a self control issue here that, like weight loss, should ultimately be addressed for a psychologically healthy lifestyle. You don't mention a budget here. A budget is one of the first tools ne...
Does anyone know where I can find the actual legal code for [UGMA](http://en.wikipedia.org/wiki/Uniform_Gifts_to_Minors_Act) in Texas and the US? I can only find a bunch of sites that quote bits and pieces of the code. I couldn't find anything in the [Texas Legal Code](http://www.statutes.legis.state.tx.us/Search.asp...
It seems like most countries restrict the citizens to the use of the government currency for exchanging goods. I'm not a world traveler so maybe there is a country where this is not the case. Does anyone know of one? Here are some restrictions on currency in the US that I’m aware of (I’m sure there are more): ...
Debit cards as bad as credit cards?
Where to find actual legal code for Uniform Gifts to Minors Act (UGMA)?
I'm helping a friend roll over his 401K into an IRA. How can I advise him as he selects what to invest his money in? Factors I know to consider: - Rate of return over 1, 3, 5, and 10 years (and Morningstar rating, yes or no?) - Expense ratio - Risk factors such as R squared I realize there are appropriate ...
How to Select IRA Investments?
Recently, I am interested to invested in Industrial and Commercial Bank of China, which is listed both in Shang Hai and Hong Kong stock market. Since I only can trade in Hong Kong Stock Market, I would like to know why there is a big difference among the current price and history price for a same stock in two differ...
How do people go about getting a feel for the soft features of financial service providers? My biggest criterion in purchasing financial services, such as bank accounts or investment accounts, aside from the actually quality of the financial product itself, is the quality of the service provided to control my use of...
Do there exist any wikipedia type sites for evaluating financial service providers?
I'm unfamiliar with Clark Howard's teaching but I am familiar with Dave Ramsey's teaching. How do Clark Howard and Dave Ramsey compare? Do they cover the same material? Any striking differences between their advice?
How does Clark Howard's advice compare to Dave Ramsey's advice?
It seems like most countries restrict the citizens to the use of the government currency for exchanging goods. I'm not a world traveler so maybe there is a country where this is not the case. Does anyone know of one? Here are some restrictions on currency in the US that I’m aware of (I’m sure there are more): ...
Sounds like you have a goldbug whispering in your ear. The Coinage Act doesn't restrict you from using foreign currency or lawful commodity or service to fulfill a debt. You are free to do that whenever you enter into an explicit or implicit contract with another party. If that wasn't the case, your kid trading his ...
Another aspect to consider is the proper asset allocation for his risk level. You shouldn't recommend your friend to be 100% in developing foriegn markets unless they're *really* risk tolerant (and even then, its probably not the best way to get good returns). There are numerous [other posts about asset allocation ...
I believe the statute you are looking for is in `Texas Property Code - Section 141` otherwise known as the [Texas Uniform Transfers to Minors Act][2] (or in [.doc file][1] on the Texas website). [1]: http://www.statutes.legis.state.tx.us/Docs/PR/word/PR.141.doc [2]: http://webcache.googleusercontent.com/searc...
I don't see how this concept takes off. First and foremost, BankSimple is NOT a bank but a tech company masquerading as one. BankSimple leaves industry regulation and treasury management -- the CORE of banking, to outside parties. <blockquote> We plan to have much better security than most banks, which isn't hard ...
I believe the statute you are looking for is in `Texas Property Code - Section 141` otherwise known as [Texas Uniform Transfers to Minors Act][1] (**UTMA**) (available in [.doc file format][2] on the Texas website). The [wikipeida article][3] on *Uniform Gifts to Minors Act* states that, in many places, UGMA has been r...
I'm planning on paying the property taxes of a home my mother-in-law owns. She owns the house, but I live there. As part of the bargain, I agreed to pay the property taxes. If I write the check directly to the State/County, can I write it off on my year end taxes?
Every year, in the US, we have new tax rules, deductions, limit increases/decreases, exceptions, benefits, etc. Are there some good resources out there for self education on what to expect with the new upcoming year? I am looking for maybe a few good websites or information portals that help bring some sanity to unde...
Good US Tax Yearly Change Resources?
I was about to make a payment the other day to an new loan account and was going to authorize a direct bank account transfer. There was a notice that the company would perform the charge twice on the account and only complete one of the charges. So we have the common practice of pre-charges to credit cards, which ...
Common practice of holding funding funds on checking account?
When I buy airplane tickets online, I pay for associated taxes at the same time. But if I have luggage to check, that's a separate cost that gets added when I check in. Should I expect to pay sales tax on these fees, if I am in a state that charges sales tax?
Is sales tax charged on checked baggage fees?
Common practice of holding payment funds on checking account?
Nice round numbers: say I perform a job that gets $1000 gross (call this `r`) in which I incur $100 in expense (call this `e`). The expense is fully deductible. Assume my marginal tax rate is 25% (call this `r`). When I'm figuring how much that job nets, do I use $75 (`e * (1-r)`) for the expense? Is $675 (`r * (...
My uncle wants me to invest money in buying shares...... After using basicallymoney for quite sometime now i would like to ask this question to my fellow users.... - Is it wise to invest money in the stock market? - Is there any age limit to start into stock market? - pros and cons when choosing to do so?
Is it wise to invest money in the stock market?
It's wise to invest in the stock market if it's the best alternative. What are the alternatives? * You can **pay down debt**, which probably has an interest rate over 6% unless it's mortgage debt. * ***This is almost always the wisest thing to do with your money*** * You can keep your money in cash. Your money w...
The first question is low long will you wish to stray there? > It costs of lot in legal changes other > changes plus taxes to buy and sell, so > if you are not going to wish to live > somewhere for at least 5 years, then I > would say that renting was better. Do you wish to be able to make changes? > Whe...
Nice round numbers: say I perform a job that gets $1000 gross (call this `g`) in which I incur $100 in expense (call this `e`). The expense is fully deductible. Assume my marginal tax rate is 25% (call this `r`). When I'm figuring how much that job nets, do I use $75 (`e * (1-r)`) for the expense? Is $675 (`g * (...
In doing research on [How to Select IRA Investments][1], I stumbled across the [Gone Fishin' Portfolio][2]. [This link][3] where I found out about the portfolio claims that it is based on the 1990 economics Nobel Prize. Is that a correct claim? If you do know about the portfolio, do its claims appear to be true? ...
Any Experience with the Gone Fishin' Portfolio?
No magic answers here. Housing is a market, and the conditions in each local market vary. I think impact on cash flow is the best way to evaluate housing prices. In general, I consider a "cheap" home to cost 20% or less of your income, "affordable" between 20-30% and "not affordable" over 30%. When you start comp...
From my days in e-commerce they break down like this? 1. The company doesn't know a debit from a credit card. Got the Visa logo, then it is a Visa through the company's payment gateway. The gateway talks to the bank and that is where the particulars for money is figured out. 2. When I programmed gateway inter...
I recently received two offers from American Express for two different cards, the Gold Card and the Green Card. I am pretty conservative when it comes to credit cards, so I don't really want both. What differences between the two are profound enough to elevate one over the other?
I am learning some basic concepts in investment. Here is my questions: Are [money market][1] instruments and [debt (short-term)][2] same? From the two links I provided, they look almost the same to me, especially from what specific investment instruments they include. Thanks and regards! [1]: http://en...
Are money market instrument and short-term debt same?
Which one has the features you want? That's really all that matters. Do you want a low introductory APR? Do you want no annual fee? Do you want rewards? Do you want a pretty color? They all swipe the same and let you walk out of the store with your purchase. It's how you pay, how much you're charged, and how m...
Do these cards resemble your offers? [http://www201.americanexpress.com/getthecard/compare-cards/popular-cards?eyetracking=true][1] If so there really only appears to be a couple of extra features on the gold card with regards to event / ticket insurance. Are your offers both charge cards like these? Charge car...
What are some good resources for yearly US tax law changes?
In the UK you can put up to 10000GBP per year into an Individual Savings Account (ISA). This account allows you to invest in stock, unit trusts, index funds etc. and all income and capital gains are free of tax. Crucially, there is no requirement for this investment to be used for retirement and there is no penalt...
FIDELITY MUNICIPAL MONEY MARKET (FTEXX) has 7-Day Yield of 0.01%. I was wondering what 7-Day Yield mean and how it is calculated. I am also wondering if I better buy T-bill with Discount Rate of 0.1% or buy some Fidelity money market funds? How can I compare them? Any suggestions? Thanks and regards!
How to understand "7-Day Yield" of a Money Market Fund?
Do these cards resemble your offers? [http://www201.americanexpress.com/getthecard/compare-cards/popular-cards?eyetracking=true][1] If so there really only appears to be a couple of extra features on the gold card with regards to event / ticket insurance. Are your offers both charge cards like these? Charge car...
FIDELITY MUNICIPAL MONEY MARKET (FTEXX) has a 7-Day Yield of 0.01%. I was wondering what 7-Day Yield means and how it is calculated. I am also wondering if it would be better to buy a T-bill with Discount Rate of 0.1% or buy some Fidelity money market funds? How can I compare them? Any suggestions? Thanks and r...
Similar to [this question][1], but with new information concerning High Frequency Trading [HFT], see articles on [HPCwire][2] and the [NY Times][3] citing that HFT accounts for 73 percent of all equity trading volume in the US and their affect on the small individual investor. Is it, currently, wise to place money i...
Is it wise to invest money in the stock market?
Do large market players using HFT make it unsafe for individual investors to be in the stock market?
I don't think that HFT is a game-changer for retail investors. It does mean that amateur daytraders need to pack it up and go home, because the HFT guys are smarter, faster and have more money than you. I'm no Warren Buffet, but I've done better in the market over the last 4 years than I ever have, and I've been act...
There's a lot of hype about HFT. It involves computers doing things that people don't really understand and making a bunch of rich guys a bunch of money, and there was a crisis and so we hate rich wall street guys this year, and so it's a hot-button issue. Meh. There's some reason for concern about the safety of the ma...
In 2008, my father-in-law let us know about a UGMA account that was for my wife. We gladly took control of the assets and noticed the value of the account crashed at some point. At the end of 2008, I received a statement with the following verbiage: <pre> Realized Gain/Loss from Sales Short-term loss -$xxx.xx Lon...
Is an old UGMA account loss tax deductable?
Why do you need to sign a check on the back when you deposit it to your account?
What is the purpose of endorsing a check?
I've thinking about buying a house, and how that would effect my net worth. It seems to me that if `out of pocket + debt = value` then the transaction shouldn't effect my net worth in the short term. What sort of actions would cause my net worth to go down?
What would make my net worth go down?
So on the back of many US credit and debit cards, there is a signature area that says something like "not valid unless signed." I notice many retailers and anyone who takes cards rarely ever checks the card for this. As an experiment, a new card I got recently, I delayed signing the back. I have yet to ever be quest...
Are cashiers required to check/credit cards for a signature in the US?
Are cashiers required to check a credit card for a signature in the U.S.?
The signature actually harks back to the days before every business checked every transaction online. When charge cards were introduced modems didn't exist. Nowadays, stolen credit cards are usually reported within 24 hours and the card won't work. Businesses that face low fraud rates don't bother checking. They pro...
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 <me>" 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 a...
Are there any countries where citizens are free to use any currency?
I've thinking about buying a house, and how that would affect my net worth. It seems to me that if `out of pocket + debt = value` then the transaction shouldn't affect my net worth in the short term. What sort of actions would cause my net worth to go down?
Who cares? Stealing your credit card info isn't identity theft, it's credit card fraud. The fraudsters are playing with the bank's money, so your only problem is to monitor your statement and report instances of fraud. When you report it, you get a new card and account number. I had a waiter in a restaurant skim my ...
What part of buying a house would make my net worth go down?
Need help with this corporate finance homework, argh. They keep saying things like "these covenants include provisions about passing dividends", what the heck?
What does dividends passed mean in terms of stock?
Is there such a thing as "joint" life insurance for two people that will pay the survivor should the other one die? In other words, I'd like to buy a policy for myself and my wife for say, $1,000,000. If I died, she would get the benefit, if she died I would get the benefit, then perhaps if we both died at the sa...
Joint Life Insurance?
I think the price history graphs of speculative investments such as housing and gold look like a series of linked "u"s, ie sharp peaks and rounded troughs, while the graphs of less speculative investments that pay a dividend look like a series of linked "n"s, ie sharp troughs and rounded peaks. Do you agree? Has this b...
What governs the shape of price history graphs?