Community Digest

Top new questions this week:

If a broad long-term investment in the stock market is such a good deal, why don't banks do the "obvious" things?

There is a fundamental discrepancy or paradox that has been keeping myself, and many others, away from the stock market. Before I explain it, let me mention some selected popular questions on this ...

stocks investing stock-markets risk risk-management  
asked by B K 36 votes
answered by dwizum 61 votes

Made a down payment for a vehicle in cash for $10,000 and a Form 8300 was sent to IRS

What does the IRS do with forms 8300 they receive? I have never bought in cash, but made a car down payment for $10,000. A notice was sent to me that said a Form 8300 was filed with The IRS. Do they ...

united-states taxes  
asked by lala 32 votes
answered by user3757614 86 votes

History of marginal-rate taxation in the US

I recently came across an article that made me think about marginal tax rates in the US. Specifically, in the fourth paragraph there is the statement: He once asked me to explain to her that if ...

united-states taxes income-tax historical-data  
asked by Anger Density 19 votes
answered by D Stanley 34 votes

Do "normal" shares in large companies pay equity, as well as profit?

If I buy shares in a big company like Intel or Microsoft I (can) receive a dividend. So these shares (can) pay "profit". However, if the company is bought, do i also receive a split of the ...

united-states stocks trading stock-markets equity  
asked by user997112 15 votes
answered by Rupert Morrish 40 votes

Pay off Credit Card Debt now or later

I recently paid a non-refundable housing deposit of $1,300 for summer intern housing. The company I am going to work at this summer has outlined in my contract that I will receive $2,500 to cover ...

banking credit debt housing  
asked by user94442 11 votes
answered by JTP - Apologise to Monica 103 votes

How Does One Compound Their Stock Investment

I was wondering if someone could explain the concept behind compounding your stock investments. For example, let's say I buy 10 shares of a stock at 10 dollars each for a total of 100 dollars. That ...

stocks investing  
asked by itsmevic 9 votes
answered by Rupert Morrish 70 votes

Calculation on Accrued Interest on typical student loan

I was reading an article on accrued interest as it pertains to student loans, and this is what was said: "Say you borrow $5,000 each year you’re in school at an interest rate of 5% each year. ...

interest student-loan  
asked by Diego 6 votes
answered by base64 13 votes

Greatest hits from previous weeks:

Why do people save so much?

When I am old and retired (70 years +), I don't plan to spend a lot of money. I'll be living in my own house that is already paid off at that point, so no rent or mortgage payments. Since I don't need ...

savings retirement risk compound-interest  
asked by cearl 154 votes
answered by TTT 260 votes

How can I have someone deposit a check for me?

I'm currently out of US territory, someone needs to pay me, so he made a check to me, with my name and CHASE account number on it, of course. Can I ask some other friend to go and deposit that check ...

united-states deposits atm personal-check  
asked by andres 10 votes
answered by littleadv 13 votes

How to correct a mistake made when writing a check?

I think I know the answer to this, but I'm not sure, and it's a good question, so I'll ask: What is the accepted/proper way to correct a mistake made on a check? For instance, I imagine that in any ...

check mistakes  
asked by Chris W. Rea 15 votes
answered by Benjamin Chambers 28 votes

What do I need to bring to the bank when applying for a loan?

What do I need to bring to the bank when applying for a loan? Should I bring pay stubs or other evidence of financial stability? What will help my chances of being approved?

united-states documents applications loans  
asked by C. Ross 10 votes
answered by Ellie Kesselman 8 votes

Can I cash in a ripped bill?

For example say I have a $100 bill. If I rip it up into 2 halves, and try to cash in each half at a different bank location, could I gain $100?

banking cash  
asked by personjerry 4 votes
answered by ChrisInEdmonton 15 votes

Do Square credit card readers allow for personal use?

Prompted by this question, I began looking for evidence that the Square credit card reader could be used for personal transactions (transactions outside of a business context). Users of Square must ...

credit-card small-business payment  
asked by mbhunter 5 votes
answered by mbhunter 13 votes

If you're loaning yourself a mortgage, why must you pay interest? At the bank's posted rate?

I'm addled. You're withdrawing money from your own Registered Retirement Savings Plan(RRSP), and you must repay it. You're not using the approved lender's money at all! So why must you pay ...

canada rrsp  
asked by Melissa Yue Wallace 19 votes
answered by Harper - Reinstate Monica 54 votes

Can you answer these questions?

Dual citizen (US/French) always lived in France and extraterritorial taxes

Me, a dutch national living in France since 2005 and my girlfriend, a US and French national are planning to get PACSed (contract of civil union?/married without the religion part ?). My girlfriend ...

united-states taxes france marriage  
asked by lolplayer101 1 vote

FBAR/Form 8938 implications for US heir/beneficiaries of foreign estates

This is a somewhat technical question and I'm hoping someone here has actual experience in handling this; it should be a quite common situation in the US, but I couldn't find any direct information: ...

united-states taxes law fbar  
asked by Jack Fleeting 2 votes

Handling the Income from an Income-Only Medicaid Asset Protection Trust

My family has created an Income-Only Medicaid Asset Protection Trust for my mother. I have some questions about how the interest (income) part of this works logistically. I am the Trustee, and have ...

united-states trusts illinois  
asked by Phil Sandler 1 vote
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