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8
votes
2answers
1k views

Should I make extra payments to my under water mortgage or increase my savings?

Currently I have a mortgage that I am underwater on by about $10K - $15k, and I am looking to move to a different state in the next year for several unrelated reasons (not buying a new home). I have ...
6
votes
3answers
163 views

Home Valuation in a Dodgy neighborhood

I own a house and live in what is often pejoratively refereed to as "the hood" (14th most dangerous hood in America according to a recent study). I bought the house because it was cheap and I had ...
20
votes
7answers
186k views

Can foreigners holding US tourist visa create a bank account in USA?

I am not a US citizen and want to visit USA as a tourist. Since withdrawing money from my home-country bank account will cost much, it is better to open an new bank account in US (after arriving) ...
22
votes
5answers
4k views

Book or web site resources for an absolute beginner to learn about stocks and investing? [closed]

I'm completely new to the world of investing and stocks. Knowing that I shouldn't invest or buy stocks until I know it well enough, I was wondering which cheap or affordable resources would be the ...
0
votes
1answer
128 views

Advice on TIAA-CREF allocation?

I'm in a TIAA-CREF program, which (I think) is like a 401(k). I say "I think" because I haven't studied 401(k)'s, having never invested in one. My question: is there anything special about TIAA-CREF ...
7
votes
3answers
13k views

American credit card with a foreign billing address?

Are there any American credit cards that I can use with a foreign billing address? Specifically, if I have the card now, with an American billing address, and if I move abroad, will I have to give it ...
3
votes
1answer
5k views

What happens to CPP/EI when you change employer?

What happens to your CPP/EI contributions when you change jobs? Is your portion of the contribution carried over to the new employer? Are there any taxes involved?
1
vote
1answer
277 views

Why a company offers share purchase plan under RRSP but not TFSA?

My company is offering share purchase plans under a tax free umbrella. What this means is that you can use your rrsp limit to contribute to thsi plan and gains will not be taxed unless withdrawn. My ...
7
votes
1answer
558 views

What is my next step with investing, given a signing bonus of restricted stock units?

So, here's my status: I have never owned stock or investments of any kind, and currently have only a checking and savings account to my name, with a small amount of stock. I'm receiving a signing ...
4
votes
2answers
892 views

Calculating profits on a covered call. What method do you use?

Hey guys. I was having a discussion with someone about calculating profits on covered calls and I thought I'd ask the community's advice on which way is correct. I buy.... - 100 shares of XYZ at $7....
8
votes
1answer
683 views

When it comes to doing business taxes, do bank statements and bills work in place of receipts?

Just at the beginning of this year, I started a business (not fully, but I've started doing jobs for it). Up until March, when I did my personal taxes, I had no idea what kinds of things I could write ...
3
votes
1answer
104 views

When spending parts of a year working in the US, and other parts working in Canada, where do I file my taxes?

I worked both in the US and Canada last year, while being resident in only one country. Am I required to report all of my income from both countries to both governments, or is there some rule or ...
4
votes
2answers
307 views

What happens if TFSA contribution limits are exceeded?

When CRA says the annual limit for a TFSA is $5000, what does it mean? What happens if I put in $6000. The gains will be taxed? How exactly? Divide the gains by 1/6, then tax the 1/6 part???
4
votes
3answers
5k views

What are the consequences of not respecting a notice period when leaving a job?

In Canada, is there a federal law of how much notice period an employer can demand? I thought the standard was 2 weeks, but then re-reading the fine print in the offer letter, I see it says : You ...
6
votes
4answers
914 views

Where should I place money I'm saving for a home downpayment?

Roth IRAs allow distributions of up to 10k for "first time home buyers," after they've been open for five years. If you knew you were going to use the money for a downpayment in five years or less, it ...
8
votes
3answers
576 views

How safe will Roth IRAs/401(k)s be going forward re: US's deteriorating fiscal position?

I've on and off wondered how "safe" Roth accounts are and things like this anti-Roth screed in the LATimes and this blog post at the Atlantic talking about the sad fiscal shape of the US has me ...
2
votes
1answer
402 views

How to represent “money down on new contract” in general journal (general ledger)

How would the following scenario be represented as a general journal entry? Jan 1, 2011: Customer signs contract for $1000 and pays $500 as a down payment and agrees to pay the remaining $500 at a ...
64
votes
3answers
12k views

Saving for retirement: How much is enough?

How to save I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in ...
8
votes
3answers
369 views

How to handle old 401(k) I have, with respect to refinancing some of my debts?

I have recently been shopping around to see if I could get my home refinanced. I purchased in Oct. 2007 for $200,000 - 30 year fixed at 5.99%. I called my lender and they were willing to refinance at ...
16
votes
2answers
2k views

Double taxation on Americans working abroad?

I am an American. I am currently living in the UK. The UK will tax me on my income here. The US will also tax me on my income if I make more than a certain amount. Can anyone tell me what that ...
5
votes
2answers
128 views

I would not like to rush to file taxes at the last moment. Does it make sense to file Form 4868?

Although I have all my tax information now in one place, I would like to study itemized deductions better and make sure that I file all my taxes correctly and maximize my returns. Does it make sense ...
4
votes
3answers
667 views

Can I claim medical expenses credit by amending my previous years' tax returns?

I am filing my taxes very close to the deadline. I was hospitalized for most of last year and had a lot of medical expenses, which way exceed my income. I was wondering if I can claim credit for those ...
14
votes
1answer
4k views

Can I withdraw Roth 401k contributions penalty-free before age 59.5?

I know that with a Roth IRA, contributions can be withdrawn penalty-free at any time. If I rollover a Roth 401k into a Roth IRA, can I do the same with the contributions made to the Roth 401k? I've ...
3
votes
2answers
2k views

How to represent “out of pocket” purchases in general ledger journal entry?

If you use personal money to pay for expenses (advertising, equipmemt), how do you represent this in a journal entry? Normally, if the money was coming from the business, you would just decrease the ...
8
votes
3answers
4k views

What is the best way of transferring money from American to Canadian bank? [closed]

I am a Canadian that will be working in US for some time. I will still have Canadian bills to pay, so I would need to regularly transfer US dollars from some US bank to my Canadian bank account in $...
5
votes
3answers
93 views

Designating a Roth contribution to the 2010 tax year: How does it work?

I would like to contribute $2000 to my Roth IRA and designate the contribution for the 2010 tax year. I would also like to know just how it works and how to do it. I know that designating this for ...
3
votes
1answer
330 views

What is the difference between a home equity line of credit and a mortgage?

In the article About.com - Six Ways To Prepare Now For Rising Interest Rates it states: The average US household debt, according to the Fed, is $20,000, not including mortgages. Most of that ...
2
votes
2answers
895 views

Does the interest rate on a savings account always fluctuate? What about for a TFSA?

When we say 'Savings Account', does it automatically mean that the interest rate can go up and down? So by that definition, the interest rate on TFSA can go up and down any time?
14
votes
10answers
3k views

Should I pay off the credit cards now or do the monthly payments thing?

I have 3 credit cards with a total balance of about $36k. Two of the cards are at 2% and the last one is at 0%. With the current payment structure, I'll be debt free in 25 months. I recently came ...
1
vote
1answer
3k views

Stock spread: wide vs. narrow?

At First Time Investor - Stock market spreads, the author states: For smaller companies the spread can be as wide as 15-20pc. That means the shares would have to go up as much 20pc before ...
4
votes
4answers
29k views

What is high trading volume in a stock indicative of? Is high liquidity a good thing or a bad thing?

At Investopedia - Average Daily Trading Volume - ADTV it says: If trading volume isn't very high, the security will tend to be less expensive because people are not as willing to buy it. But ...
6
votes
1answer
669 views

If my parents claim me for taxes do I have to pay taxes?

This is kind of a late question. I am contractor at my current job (19 years old) and I have to pay taxes this year. If my parents claim me will the taxes I owe just come out of the money they get ...
2
votes
3answers
2k views

Discussing stock and stock index movement: clarifying percentage vs. points?

I'm trying to understand more about financial terminology used in news reports, but I'm having a hard time understanding what is meant when someone says the following: "NASDAQ was down X points today ...
5
votes
2answers
2k views

Discussing real estate appreciation: Compound vs. simple interest?

When people say real estate has appreciated 8 % over the past 5 years, do they mean 8 % compounded annually? or simple interest annually?
3
votes
1answer
122 views

How can travel agents offer lower fares than what's listed at online travel sites?

What is the secret behind travel agents being able to offer airline tickets at rates lower than Expedia, Orbitz, CheapOair and other sites? No matter how hard I search online, it seems the agent ...
11
votes
2answers
7k views

Are share prices for a company which is listed on multiple exchanges, under multiple currencies, kept in synch?

If a company is listed on two exchanges, say, with share prices in both USD and EUR, are the prices kept in synch with each other, or allowed to float independently? If the prices are coordinated, how ...
4
votes
1answer
125 views

Is it possible to defer income for a child's education

I have a 16 year old who will be going to college soon. I received a job offer that I have not accepted yet and it includes an annual bonus. Before accepting the offer I wanted to find out what ...
13
votes
5answers
5k views

Does Joel Greenblatt's “Magic Formula Investing” really beat the market?

Background Joel Greenblatt's book "The little blue book that beats the market" is based on the premise that he has developed a magic formula. I am heavily skeptical of anyone who claims that they ...
5
votes
1answer
284 views

Who sets the prices on government bonds?

I noticed my country Greece wanted to sell bonds last year and they were stating "If they go above 7% we won't sell.". But who sets the price if not them? Why can't they say "the price is 5% and if ...
2
votes
2answers
73 views

Book airfare online or through agent?

What is the historically proved-cheaper method of booking a long distance international flight? I came to know of http://www.yapta.com and for mid may I booked a return from Toronto to New Delhi with ...
5
votes
2answers
630 views

How to calculate the market capitalization (fair market value) of the Metropolitan Transportation Authority of New York?

I'd like to calculate the fair market capitalization of the Metropolitan Transportation Authority of New York, or learn how to do so of any comparable public interest corporation (ie an entity without ...
5
votes
3answers
2k views

Covered calls: How to handle this trade?

I bought XNPT (Xenoport) a couple of weeks ago at 6.93 I turned right around and sold the Apr 16 call. $8.00 strike and collected 1.50 in premium. Today I get a great surprise that XNPT has rocketed ...
3
votes
2answers
175 views

Video recommendation for stock market education

I'm just beginning my entry into stock market investing, the answers to this question helped a lot. I decided to research available videos and workshops to speed up my learning and get good expert ...
2
votes
1answer
234 views

Better LIC health insurance plan? [India]

I have just started working. I have a plan of taking a insurance for myself where I could pay a maximum of Rs.2000 as premium. Can any one suggest how I should go about finding a better policy for me?...
1
vote
2answers
382 views

Working abroad and UK tax

I am British, if I go and work abroad on a 1 year contract in a tax free country. If in that year I make £50,000, will I have to pay tax on that money to the UK?
1
vote
1answer
8k views

Where on schedule C should a PO Box Rental fee go?

I'm filling out my US Income tax forms and I am trying to decide where on Schedule C to put the expense for a PO Box Rental. My first guess was "Communication," but I'm not sure. "Office Expense" or ...
3
votes
2answers
15k views

Are donations to public schools tax deductible like a 501(c)(3) organization?

In the United States, are donations to public schools like a local elementary school deductible in the same way that donations to a 501(c)(3) charity or a church are deductible?
3
votes
1answer
27k views

How to record business income tax paid, in QuickBooks?

This is not a personal finance question, but I don't see a StackExchange site dedicated for business finance/accounting. So I'm asking it here. I run a small business (LLC) and using QuickBooks for ...
6
votes
3answers
190 views

While building a retirement portfolio, should the concentration be more on increasing net worth or cash flow?

Most of the articles/blogs/websites on retirement savings concentrate on adding more savings and investments to increase the net worth of an individual. But a higher net worth doesn't imply that a ...
4
votes
1answer
57 views

When filing part time residency how does one determine interest earned in which state?

I am filing in two states. My residency ends up being about 60-40. On the state forms it asks Interest and Dividend from State sources. Do I have to claim it on both, or do I just claim it on the ...

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