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5
votes
4answers
609 views

Should I accept a credit card settlement?

I have pretty awful credit rating (570 last I checked) as a result of a foreclosure and a massive amount of credit card debt. One of the credit cards (BofA) to who I owe 17k has offered a settlement -...
7
votes
4answers
1k views

Is leveraging notoriety to raise stock prices illegal in the US?

Without plagiarizing, I found the following article interesting: http://www.ibtimes.com/articles/99665/20110111/50-cent-hustler-entrepreneur-innovator.htm# Essentially, 50 Cent tweeted about a ...
5
votes
3answers
4k views

Will paying off a loan early hurt my credit?

I recently purchased a vehicle and took out an Auto loan from the local credit union. I have run into some extra cash and can actually pay off the car completely. I have a very little credit history,...
4
votes
2answers
1k views

What are some legitimate places to buy gold bullion bars in USA?

I am looking to buy gold bars. Just the element with minimal "craftsmanship". What are some good places/outlets to buy gold in the USA?
9
votes
7answers
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 ...
10
votes
5answers
2k views

Buying gold / silver as a hedge against hyperinflation

I'm becoming more interested in buying gold / silver coins as a hedge against inflation and especially hyperinflation. I know very little about this, and there are thousands of sites on the internet ...
12
votes
2answers
2k views

As a US citizen, should I only have $50,000 in non US banks due to FATCA?

The Hiring Incentives to Restore Employment (HIRE) act was enacted March 18, 2010 with the goal of increasing employment in the US. It also included the Foreign Account Tax Compliance Act (FATCA) ...
3
votes
3answers
332 views

At what point does a hobby turn into a business?

Is it based on how much I earn? if so, can I re-invest all of the income back into the hobby and still call it a hobby?
15
votes
4answers
2k views

How much money do I need to have saved up for retirement?

I'm 29, and just started a new job with an excellent mandatory retirement plan. I contribute 5.5 percent of my salary and my employer deposits an amount equal to 8.5 percent of my salary. I have a ...
2
votes
2answers
162 views

Are there any issues with registering an LLC in a foreign state?

This topic has probably been beaten to death, but just want to double check with you guys. I'm currently in NYC, although I do not plan on living here (my parents are here tho). I have a web ...
15
votes
3answers
2k views

Need advice about my financial situation

Here is my living situation in a nutshell Live in California 2 kids (7 and 11) Ex-wife I am almost 40. I rent Financial situation: Make about $170k (includes regular job + moonlighting) before ...
6
votes
3answers
1k views

How can I cash out my prepaid cell phone?

As a very frugal person, I have a prepaid phone plan that costs $100 a year. For the past two years, I've spent roughly $50 of that each year. As long as I renew the plan with another $100 every year, ...
1
vote
2answers
4k views

What is the difference between a check and a paycheck?

What is the difference between a check and a paycheck?
1
vote
1answer
111 views

Protecting Gains: Buying a Put vs. Leveraged Bear Market vs. Liquidating Long Positions?

I am a long investor looking to protect some of my gains in the recent market rally. What are my options? I know of 3 possibilities: Buying a Put (in say SPY) Leveraged Bear Market (say QID) ...
4
votes
2answers
731 views

What are the rules on overfunding a 529 college savings account?

I read somewhere that overfunding a 529 account could be subject to taxes and a 10% penalty. Does anyone know how this works? Obviously, it is very difficult to predict the tuition costs 10 or 15 ...
9
votes
1answer
6k views

I'm self-employed with my own LLC. How should I pay myself, given my situation?

I do a ton of freelance web design and decided to setup a simple LLC so I could have a credit card to make business purchases with. From my limited understanding, I can choose to be taxed as an S-corp ...
6
votes
4answers
4k views

Possible to use balance transfers to avoid interest with major credit cards?

I recently paid off a balance transfer and then this thought occurred to me. Let's say you have $3000 of debt outstanding on a credit card. The goal is not to pay interest while you work to save the $...
9
votes
4answers
19k views

What is the average margin on a vehicle from a used car dealer?

I'm going to be looking for a used car here from a dealer, and I'd like to be as informed as possible when entering negotiations. A dealer has the car I want, used (looks like it was brought back from ...
5
votes
2answers
447 views

Can you write off time like you can money?

I've spent considerable time in the last year building a portfolio for my business. This time was donated to clients, for my benefit, and theirs. There is a large opportunity cost lost. I could ...
4
votes
4answers
6k views

How much control over the Federal Reserve does the U.S. Government have? [closed]

Or, in other words: Who does the head of Fed report to? Is the Federal Reserve a private institution? I'm going to be a bit naive here, have just read about how the Fed has been brought to life and ...
7
votes
3answers
614 views

How many assets do you need before you should buy an umbrella insurance policy?

I've heard of umbrella policies before and I've seen some questions about them on the site, but I don't know how many assets you need before an umbrella policy is worth it. Does $50K of assets ...
4
votes
4answers
267 views

Working but still in college, worth investing?

Currently, I'm in a predictable but yet uncertain future with my money situation. I'm working for the next semester and summer, but I'll be going back to do a 2-years graduate program in the fall. ...
5
votes
1answer
236 views

Credit check for refinance inquiry?

I'm thinking of refinancing my mortgage. I called my current lender, and was given a quote for a refinance with a lower interest rate, and $1200 in closing costs. Now I'm trying to shop around for ...
4
votes
1answer
6k views

Is a defensive driving course worth the money? How much is a typical insurance discount?

My car insurer offers a defensive driving discount. I'm under 30, never had an accident or ticket, and paying a pretty cheap rate already, but paying less is always better. The insurer's published ...
2
votes
1answer
140 views

Asset protection: When should an individual seriously consider shielding their assets?

I keep hearing people talking about asset protection, and that in any serious business venture you're bound to get sued. Due to limited resources, people are bound to delay their protection strategies ...
2
votes
1answer
650 views

Sites to obtain historical chart of currency exchange rates?

Besides Yahoo Finance, is there any site where I can obtain history chart of currency exchange, for cross comparison purpose? (As I realize British Pound against my country currency is the lowest ...
2
votes
2answers
3k views

How does “taking over payments” work?

I will be purchasing a new car fairly soon here, and could help my SO out a lot by having her "take over" payments on my current car. I've heard this term colloquially, but I'm not sure how it works ...
5
votes
4answers
1k views

Will paying off my car early hinder my ability to build credit?

I don't have much credit because I am young but I did recently purchase a car which I am paying 9% on. This seems ridiculously high to me and I was thinking about pulling out some of my stocks to pay ...
6
votes
2answers
348 views

Best way to fund solo 401k account in cash crunch?

I'm Self-employed in the US. 2010 was a good year, and I am facing a big income tax bill. Will owe $18-20k in April. I can reduce that significantly if I max out my solo 401k at $45k. Haven't made any ...
2
votes
1answer
172 views

Obtaining a Taxpayer Identification Number

I am a student on a F1 Visa in the US and would like to apply for personal student loans from Banks like Chase, Sallie Mae. Being a non US Citizen and on a student Visa, I am unauthorized to work, ...
4
votes
1answer
1k views

How to quantify differences in return with low expense ratio vs high expense ratio mutual funds?

One often repeated piece of financial advice is to work to minimize your expense ratios in your mutual funds in order to maximize your returns. While it is often straightforward to determine the ...
3
votes
1answer
805 views

How can I determine why I received a Form 1099-G?

I received a 1099-G Tax Document in the mail today. Is there a way to determine why I got this and what it is related to?
15
votes
4answers
317k views

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 ...
2
votes
2answers
441 views

At retirement age, can I roll my IRA variable annuity into a bank IRA?

I have reached retirement age and have a variable annuity with Hartford. I would like to get out of the annuity and roll over into a bank account IRA. I have held the product for 12 years and there ...
7
votes
2answers
814 views

How to use a cash budget and buy items online?

Using a cash budget, say we save $100 for household items. Typically, we would withdraw $100 from the ATM, put it in an envelope, and then later, go to home depot or walmart or wherever and buy an ...
6
votes
2answers
2k views

How do credit card payments work? What ensures the retailer charges the right amount?

If I buy book from an online shopping site via my credit card, how can the retailer get money from my credit card? What is in place to ensure the retailer gets the exact amount of money I should pay, ...
3
votes
1answer
685 views

Do I need a new EIN since I am hiring employees for my LLC?

I have an LLC that I set up but at the time it was created, the business did not have any employees (this is for consulting work I am doing). So I now have an EIN for this LLC but during the IRS ...
8
votes
6answers
1k views

Are investment companies safe for investing a large sum of money?

I'm a computer programmer who got in early it a successful internet company. My business is entering a transition period and I'm not sure if I'll be making the same income for much longer. I'd say I ...
7
votes
2answers
4k views

What is the difference between PPF and NSC saving schemes?

I want to invest money in either a PPF (Public Provident Fund) or NSC (National Savings Certificate) scheme, but I would like to understand the differences between them.
4
votes
2answers
467 views

Should I try to optimize my credit score before applying for a loan?

I am considering shopping for a house somewhere this year, which of course would involve shopping for a mortgage. And mortgage rates depend on the credit score. My credit history is clean from trouble,...
4
votes
1answer
202 views

First-Time Homebuyer Credit: Did not get my housing tax credit yet. What should I do?

I feel that my new accountant has dropped the ball. In doing my taxes, he failed to get me and my wife the new home tax credit. In looking into it, those who never owned a home were to get $8k back ...
3
votes
1answer
117 views

What book or source of information can help me build a business from tax money?

My wife and I are both employed. We are in the middle class family tax bracket, but we don't own a house thus making our tax very high. I want to start a business to work it after hours and divert ...
13
votes
3answers
4k views

What is most time-efficient way to track portfolio asset allocation?

I've recently decided I wanted to track my investments over time so that I could accurately determine really cool financial things like: My actual asset allocation My actual rate of return over time ...
28
votes
7answers
12k views

Why is the fractional-reserve banking not a Ponzi scheme? [closed]

Operating a Ponzi scheme is a crime which I suppose has some sort of definition in the penal code or criminal law. It is a fraudulent investment operation that pays returns to separate investors from ...
3
votes
2answers
1k views

Is owning ADR share for a good idea for long term investor

I am pretty new to ADR concept. Just that recently, I realize by owning ADR, I will be charged an amount of fee. http://www.investopedia.com/ask/answers/06/adrdepositorybank.asp How frequent the ADR ...
12
votes
5answers
9k views

Can making a donation reduce your tax bill?

If my adjusted gross income is $1000, and I make a donation of $100, then it seems that I'm still going to have to pay a tax on the $1000. The donation is deductible, so I don't pay any tax on that, ...
3
votes
2answers
1k views

Does owning BP ADR from US stock market required to pay custody fees

Helo, I am a Malaysia investor. Recently, I invest in BP ADR from US market, through my local broking firm. I was wondering, whether owning BP ADR, requires me to pay custody fee. What my ...
7
votes
6answers
884 views

What would happen if the Euro currency went bust?

Seems to be a lot in the news recently (Google Business news UK) discussing that the euro currency may not survive. They suggested it has a 1/5 chance of surviving the next decade. What would ...
11
votes
1answer
11k views

Why does Bank of America sometimes refer to itself as Banc of America on some documents?

Why does Bank of America sometimes refer to itself as 'Banc of America'? Are they two separate institutions responsible for different things? It's always seemed odd to me.
4
votes
2answers
385 views

This is my first job and I've only worked for 4 months in 2010. With a default withholding, should I expect a large refund?

I started my first job out of college in September. I claimed no deductions on my W-4 at that time. My company is withholding enough each month to pay 1/12 of the tax on my yearly salary. I have ...

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