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Questions tagged [income]

Questions related to the earning of money (or other capital) within a specified time frame. Topics such as methods to increase income, account for it, track it, analyze it, or disclose it are all appropriate, but discussions of *income tax* should use that tag instead.

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75 votes
11 answers
19k views

Parent asking for money after I moved out

My parents are divorced and my dad has to pay to my mom financial support for everyone in the family. Because I moved out, my dad removed part of this financial support that he gives my mom. She is ...
crvswb's user avatar
  • 491
71 votes
9 answers
41k views

Making $100,000 USD per month, no idea what to do with it

I have a few consulting jobs I do on the side, and this year I've had a lot of extra work, with several months in 2016 exceeding $100,000 USD in billing. I do this work from my home with no ...
Fixee's user avatar
  • 4,524
66 votes
17 answers
23k views

How to share income after marriage and kids?

My girlfriend and I are thinking about marriage and having children and I have spent the last days trying to figure out concepts how to handle finances from that point forward. I believe that this is ...
Chris's user avatar
  • 802
56 votes
20 answers
15k views

Are there any financial disadvantages to living significantly "below your means"?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: ...
seventyeightist's user avatar
54 votes
8 answers
24k views

How much money should I save in order to generate $1000/month for the rest of my life?

How much money do I need to make in order to generate 1k/month for the rest of my life? Is that even possible? If yes, in what way? Edit: I am 30 years old.
samouray's user avatar
  • 657
43 votes
4 answers
17k views

How can I get a job without pushing my family's income into a higher tax bracket?

I live in Seattle and turn 18 before the year's end, and I'm told my family has an income such that if I get a job and make more than $1000, then I would push my family into a higher tax bracket. ...
Jodast's user avatar
  • 549
40 votes
13 answers
12k views

Is there a price point beyond which it no longer makes sense to buy an apartment or house?

I am in a very frustrating situation right now. I have accumulated a decent amount of value in cash and stocks. My wife and I however are still living in a rented small flat in our town in Austria ...
Orsinus's user avatar
  • 563
38 votes
8 answers
12k views

Do I have to explain the source of *all* income on my taxes?

I live in the US. A complete stranger knocked on my door, gave me a pallet of $20 bills (which in total amount to several hundred thousand dollars), and left without saying a word. As far as I can ...
Ken - Enough about Monica's user avatar
37 votes
8 answers
11k views

What can I do to passively generate income?

I work 3 jobs totaling at 52 hours weekly. I don't have anything of value that I can sell for money. I put $10 into penny stocks a few weeks ago, but they don't gain much. I'm 25, and my savings is ...
Callat's user avatar
  • 483
36 votes
9 answers
13k views

What does it mean for Bill Gates to have an income of $0 dollars? What word would have been more appropriate than "income" is?

What does it mean for Bill Gates to have an income of $0? I recently engaged in a friendly Twitter debate about limiting personal income. Someone told me that Bill Gates has an income of $0. You ...
Shaun Luttin's user avatar
34 votes
12 answers
9k views

Excess income after fully funding all retirement accounts. Now what?

Long-time lurker, first time asker... I have a positive problem. We are a family of four with two small kids with one working parent (me). We have very little debt: our only debt is our mortgage, ...
Randall's user avatar
  • 443
33 votes
11 answers
9k views

Case against home ownership? High income, no home, don't necessarily want one

All numbers are in USD and my tax situation pertains to US taxes. I am at a crossroads and am seeking help. I am a single man who has always made a good living and generally enjoy my life as I please. ...
PropositionJoe's user avatar
32 votes
13 answers
4k views

I'm only spending roughly half of what I earn; should I spend more?

around 6 months ago I started this job. Around 3 months ago while reading this very website I downloaded a budgeting software and started writing down everything I earned and spent, and I noticed I'm ...
anon's user avatar
  • 329
30 votes
7 answers
23k views

What exactly is a "bad," "standard," or "good" annual raise? If I am told a hard percentage and don't get it, should I look elsewhere?

Is there a percentage threshold for a hypothetical "bad," "standard," or "good" annual raise? I supposed a bad raise would be no raise at all and I hear a typical raise is around 3%, which barely ...
gwar9's user avatar
  • 469
29 votes
6 answers
14k views

What, if any, are the downsides of direct deposit?

After many years, my employer is offering direct deposit. I've used direct deposit before at other jobs. Are there any downsides or cons to using direct deposit?
Matthew Rodatus's user avatar
27 votes
6 answers
9k views

What does "not touching the principal" actually mean?

When talking about "trust fund children" or large savings it's common to hear the phrase "not touching the principal", which means that only the "earnings" from the money ...
ConcernedCitizen's user avatar
27 votes
11 answers
17k views

Is there any financial benefit to being paid bi-weekly over monthly?

I have read in many sources that it's generally better for an employee to be paid bi-weekly than monthly. I have been performing some calculations and can't see the benefit to this. Say I was on a $...
LeopardSkinPillBoxHat's user avatar
23 votes
1 answer
12k views

Is income from a check taxed according to the date written or the date deposited?

Scenario Let's say I was given a check from an LLC on December 15 that was written to my LLC on that same day, and I cash it on January 15 the following year. Question Will I have to claim the ...
Jacksonkr's user avatar
  • 943
21 votes
3 answers
6k views

Is money from the sale of an asset considered income?

Is money from the sale of an asset, like a pickup truck, considered income? For example, let's say I am a carpenter and I buy a new pickup truck for $40,000. I deduct $18,000 in depreciation for the ...
Five Bagger's user avatar
  • 9,785
20 votes
4 answers
11k views

What Was "A Lot of Money" In 1971?

In 1971 before the United States left the gold standard, the median home price was approximately $24,000. Now, the median home price is approximately $180,000. For people who were alive then and ...
wpquestionz's user avatar
19 votes
4 answers
7k views

Paying Off Student Loans Early

I currently owe $34,558.00 in student loans ($31,000.00 principal + $3,601.83 unpaid interest accrued so far) with an average interest rate of 4.877%. I just started working full time ($70,000 GAI) ...
Josh Broadhurst's user avatar
18 votes
4 answers
6k views

How to Convert UK Income Levels to USA Income Levels

I'm graduating with a PhD soon in the UK and now I'm trying to figure out how much I am worth in the workforce & see higher wages in the USA. I don't know if the numbers are adjusted for things ...
KryptoKing's user avatar
17 votes
4 answers
4k views

Building a source of passive income: How can I start? [closed]

For the past couple of months I have been researching, specifically on how to generate or build up a second source of passive income, I am obsessed with the fact of making another source of income at ...
fbleb's user avatar
  • 171
17 votes
1 answer
4k views

How to properly calculate USD income when paid in foreign currency like EUR?

Say I live and work in the United States, but mostly do contract work for European organizations. This would mean that I very often invoice and get paid in EUR, which initially might go into a EUR ...
Donuts's user avatar
  • 178
16 votes
3 answers
6k views

What is the proper way to report additional income for taxes (specifically, Android development)?

Let's say I have a day job that contributes to the majority of my income. Now if I do some Android development (or similarly iPhone, Blackberry, or any other hobby that produces an additional income) ...
Bryan Denny's user avatar
  • 1,357
15 votes
9 answers
3k views

Switch from DINK to SIWK: How do people afford kids?

Currently my wife and I both work, and we have no kids. We have no debts (besides our mortgage), live very frugally (friends call us cheap), and are roughly breaking even. We would like to have kids, ...
Ray's user avatar
  • 248
15 votes
8 answers
1k views

What ways are there for us to earn a little extra side money?

I have done all the cost-cutting that my family can allow. It is still not enough - I spend more than I earn. This is killing the credit card and is going to be bad news for us unless we can sort this ...
13 votes
3 answers
12k views

How much would be a fair raise or salary increase to ask for at work?

I have not got a raise at work for some time - almost two years - and I think I am due. I did not ask during the crisis because other companies were laying off, etc. Mine didn't lay off, we actually ...
user avatar
13 votes
5 answers
5k views

Is the money that you get back from deposits or rebates taxable?

Please help me understand if the following two items are taxable or if they should be included at all on the tax report: Rent deposit. A few years ago, when I moved in my previous apartment I put a ...
Jason F's user avatar
  • 133
11 votes
1 answer
2k views

In what ways can a public company ask for money?

I'm just curious, what are the ways that a publicly traded company can ask for more money? Do they just sell shares of their company stock they own themselves, or do they issue more bonds? Are there ...
Sean's user avatar
  • 213
11 votes
1 answer
660 views

How to record the finding of 10 dollars lying on the street and their subsequent placement into one's wallet (in gnucash)?

Within gnucash: within the Cash in Wallet account: description: found some money in the street transfer: Imbalance-USD or create a new arbitrary one-off account called something like "Penny Lane" or ...
shoyu's user avatar
  • 691
11 votes
1 answer
1k views

What is CGT rate if you have no taxable income?

gov.uk lists 4 tax bands: personal allowance basic rate higher rate additional rate On its capital gains tax rate page, it explains the rates for: "higher or additional rate taxpayer"; ...
jhnc's user avatar
  • 265
9 votes
6 answers
849 views

How do I adjust to a new social class?

I've moved from a poor, working-class state to a better-developed, middle-class state in the US. Here's my problem: I'm having an extremely hard time adjusting to the price differences between the ...
Corey's user avatar
  • 825
9 votes
8 answers
4k views

How much capital is necessary to live on $5000 / mo.?

If I want to determine how much gross return I would need to live on $5000 / mo ($60,000 / yr) and I were to assume all return would come from an investment pool of capital in ETFs, stocks, etc, that ...
Jed Schneider's user avatar
9 votes
7 answers
1k views

What tool would you recommend to keep track of incomes and expenses?

Part of New Year's resolutions is to keep better track of where my money is going. I have a regular day job and I also do some freelancing work online , which is not related to my regular job. In my ...
user avatar
9 votes
2 answers
377 views

How and where can I deposit money to generate future payments / income?

My Question. What do I deposit now, today, to pay myself $300.00 per week,i.e. $15,600.00 annually at 5% interest for 10 years? What kind of or type of financial institution do I deposit the in? A few ...
user avatar
9 votes
1 answer
3k views

Tax implications of roommate rent from unofficial apartment sublet

I'm currently renting a 2/2 apartment in the US that is managed by a REIT (NYSE:MAA). I set it up in which I am the sole responsible lease holder and have added a roommate to the lease as an occupant (...
Thew's user avatar
  • 93
9 votes
3 answers
1k views

How do you model future income when doing long term planning?

One of the things I do that allows me to really get into investments, budgeting, saving money, is spreadsheeting it all out and forcasting the returns I might reap based on a given set of assumptions. ...
Glorified Plumber's user avatar
9 votes
2 answers
397 views

Can I claim lost income if a company I invested in went out of business?

What happens when a company I invested in goes out of business? Is that declared as a personal capital loss? Does it offset capital gains elsewhere, and how do I include it in my tax filing?
user avatar
8 votes
2 answers
8k views

Get car loan w/ part time job as student with no credit, no-cosigner but no expenses

This is the only place where I knew to turn for a question like this. I am a student (if that will make me look better to the loan officers), but I'm fairly certain I have no credit. I took out a ...
revofire's user avatar
8 votes
3 answers
851 views

Risks associated with investing in dividend paying stocks for short term income. Alternatives?

I will be leaving my place of employment in the near future to run and grow my small business full-time. After assessing my expenses I'm expecting to be in the red $300-$400 a month for the next 1-2 ...
404UserNotFound's user avatar
8 votes
2 answers
960 views

What is the current US-Canadian agreement on withholding taxes for US Investment income?

Withholding tax credits have changed over the past few years. What is the agreement between Canada and USA related to how much can be claimed and how much must be applied for as a reimbursement?
Zephyr's user avatar
  • 6,230
8 votes
1 answer
1k views

I'm starting a new job in 20 days - can I include my future income when applying for a credit card now?

I'm starting a new job soon and moving to a new city. I've never held a credit card and want to apply for one. As with all moves there are likely to be expenses so I'd love to be able to stick them on ...
Hollandeise's user avatar
7 votes
2 answers
1k views

How do I handle taxes on a very large "gift" from my employers?

My husband just received a $700,000 "gift" from the partners at the organization he has worked for for over 13.5 years. These particular partners sold their share of the partnership, making an ...
bj117's user avatar
  • 71
7 votes
3 answers
2k views

How do I report this cash bonus/tip on income tax return?

My wife does seasonal gardening work. Her employer pays her hourly, withholds taxes, provides W-2s, etc. She does her work on a single property, and last year the owners of the property gave her an ...
glibdud's user avatar
  • 740
7 votes
2 answers
7k views

Joint ownership on home (50/50), when I apply for a loan, do they look at total mortgage payment as debt or half?

I am in joint ownership of a home (50/50). When I apply for a car loan and they are looking at my credit report, do they look at the total mortgage payment as my debt or only half? Does the credit ...
user avatar
7 votes
2 answers
3k views

Am I entitled to pay if my last day falls on a holiday?

I worked for a large corporation in Texas, USA. I put in my two week notice and it just so happened that my last day fell on Good Friday. So, I was forced to turn all my equipment in on Thursday since ...
user2297613's user avatar
7 votes
4 answers
1k views

Investing in income stocks for dividends - worth it?

I currently have a 401k that I'm maxing out for this year ($18,000) and a Roth IRA that I'm maxing out ($5,500). I'm a bit behind on investments, but because of my income I think that I can play a bit ...
user avatar
7 votes
2 answers
333 views

Which tax year does a bonus fall under in Ireland?

Based on my work in 2012, my company pays me a bonus in January 2013. Should the bonus be taxed as part of 2012 income, or part of 2013 income?
Olexiy's user avatar
  • 269
7 votes
1 answer
396 views

What is a good asset allocation for a 24 year old planning to do a startup?

I am planning to quit my current job and do a tech startup. How should I invest my savings of ~$210K? Assume that a fixed amount X = $2000 gets withdrawn per month and the aim is to maximize the ...
Anonymous's user avatar

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