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0

You don't need to officially start a business. You can do business as yourself and do just about anything you could if you started an LLC. You're claiming the income as self-employment income. There's several different forms depending on which tax documents you get from your clients.


0

I can only speak from my experience with various American credit cards (issued by U.S. Bank and Capital One). In cases where the current balance is less than the statement balance, paying the current balance will result in no interest charges. This makes sense because what amount could interest even be charged on if the current balance is $0 when the next ...


2

It all depends on how you received the cash back reimbursement of $20. With some credit card companies, the website tells that you have $20 available as cash back and offers the options of (a) getting a check in the mail for $20, (b) having the money credited towards your credit card balance, (c) getting a gift card usable at a specific merchant's store (in ...


3

Yes, you're required to pay the Minimum Payment Due. However, you're never required to pay more than the actual Balance Owed. This may not make sense in the Internet age. But the concept of a Statement Balance is rooted in the tradition of mailing statements: That is why "billing cycles" exist. Traditionally, you would be expected to keep track of ...


4

If your current balance is $180, many banks won't let you pay $200. And, at any rate, from an obligation standpoint, a current balance of $180 means you owe $180, and once you've paid that off, you have no obligation. It doesn't matter if your statement says you owed $200 or $20,000; if the current balance is $180 you only need to pay $180. In other words: ...


23

Buy for your friend a cheap and reasonably reliable used car. You can get such car for less than you would spend on lawyers to write a contract for the loan in your inquiry (so you and your friend are already ahead financially - because otherwise this cost would have to be added to the loan your friend would have to finance, and you risk to lose). If he ...


45

To secure the loan, would it be possible to take the car as a collateral? Yes it is possible. But to do this you have to create a lien, which is a legal document, and you would need a lawyer to do it. With the lien: A) yes you stop him selling the car B) Yes this will be registered C) Yes you can take the car back. Without the lien the answer to all of ...


7

A) Their word and your lawyers. Also, see B B) File a lien on the title C) Outline these details in the contract D) You can try taking it back yourself through legal means but paying a reputable repo company might be better E) See C and request that they supply you a copy of their insurance policy upon every renewal. F) Mortgages have something called PMI (...


170

As a frame challenge to your question, consider that a deposit in your bank is essentially you giving a loan to the bank. Now the bank has money which they can loan to your friend! Yes, you're only making 2% by loaning money to the bank, but this way, the fact that you're only earning 2% is essentially you allowing the bank to keep a portion of the interest ...


16

Canadian tax law is much simpler than the US. Canada does not have a "gift tax" either for the giver or the receiver, except for some very special cases. US gift tax is paid by the giver, not the receiver, so would not be payable by a Canadian on a gift given in Canada.


14

In the US the giver of gifts has the gift-tax obligation if any exists, not the recipient. Even if letting them stay at the house was considered to be a gift it wouldn't be relevant to the IRS if the giver is Canadian. I'm not familiar with gift-taxation in Canada.


1

I would say that, yes, it is tax-inefficient to rent and receive rent. Living in your own home is equivalent to renting to yourself (i.e. paying an amount of rent and receiving the same amount of rent), except you don't get taxed on the rental income as you would if you actually rented out to someone. This is the concept of "imputed income" -- you save ...


1

As Nayuki points out you have too few days per year as 14 x 26 = 364 meaning you miss 1 day per year. This results in two errors in your calculation Your rate is a little too big, should be 0.001143 by using this formula (1 + 0.03 / 2)^(14 / (365/2)) - 1 You have too few periods as you use 26 payments x 25 years = 650, which should have been (365/14) x 25 =...


1

Something else to consider, because you are in Canada, based on the tax implications of selling a 'principal residence' [ie: the home you actually live in]: Any gain on selling a principal residence is completely tax free. For every tax year, only one property can be your 'principal residence'. In some cases, you may have the ability to choose which is ...


3

If you move, you are correct that you would be "worse off" (financially) than you are now, but the things you are comparing are actually independent from each other. Consider these hypotheticals: You currently live in your parents house and pay no rent. If you choose to rent an apartment on your own, you would be "worse off". You currently live in a paid ...


16

he asked for my bank account info which I stupidly gave him Did you give him the information to deposit money i.e. account number and sort code? Or did you give him the information to physically log in to your online banking? Sugar daddy stuff aside, you should never give anyone the latter, especially not a stranger. Even if you had no money in it, your ...


41

I would suggest you immediately take this matter to the police. Will I get in trouble for accepting money from someone over age? Almost certainly not. The concept of "under age" exists for a reason, society has lower expectations while you're still young. The other guy, however, is potentially in some deep shit. For an adult to seek out a sugar daddy/...


71

Also I am 16 Before chat with a sugar daddy, for God's sake learn what is expected of a sugar baby. (Accessing your bank account is not what's expected...) will I get in trouble for accepting money from someone over age? Tell the truth, the whole truth, and nothing but the truth; plead youth, naivete and desperation. They'll fuss at you a bit, but won'...


2

When this type of question pops up, it's usually this time of the quarter :->) SPY went x-dividend on 12/20 XSP.TO went ex-dividend for 37+ cents on 12/30 While the correlation appears to have broken down, when you add the dividend back in, the correlation is still there. To see it for yourself, figure out the percentage change in the SPY from 12/27 to ...


2

XSP began trading ex-dividend of $0.37082 per share on December 30, which is expected to cause the per-unit price to drop by that amount.


-1

Not sure about Canada but insurance typically involves an open enrollment period or major life events. Open enrollment: For one month out of the year (specified by the employer) employees are allowed to freely sign up for, change, or cancel their insurance plan Major life events (when this happens you can make changes to your insurance): Change in ...


3

I can't answer your question specifically because I'm in the U.S. and this is about a Canadian ETF and a Canadian account. But I can surmise what the reason might be based on what happens here in the U.S. I suspect that today is the ex-dividend date for your ETF and that there was a distribution. When that occurs, the previous closing price is reduced by ...


1

You can submit an application for insurance, but you must disclose all of your existing conditions and your family history. Anything that is relevant must be disclosed on the application form. If you neglect to mention your dentist's quote for the substantial work you need, this is known as insurance fraud (which is a criminal act). As others have ...


4

The Manulife link you provided says: Your coverage is guaranteed with no medical questions when you apply and pay your first premium within 90 days of your employee benefits ending. That implies that for new coverage, you will be asked medical questions. And of course your answers will affect whether they accept you, what your rates will be, and what ...


0

No, all dental insurance that I know of will have waiting periods for major work. Many will not have waiting periods for routine cleanings, but that won't help you. Aetna has a dental discount program without a waiting period. But, if you shop around, you can probably get work done for the same cost without the discount.


1

I'm only going to answer about the safe payment aspect, not the friend in Africa. While it is true that the most secure ways to receive payment is either cash or a cashier cheque that you see being cut by the bank, with little higher risk tolerance you might consider some easier ways. I would accept a pre-made cashiers cheque with some extra security ...


2

This sounds like a scam. I'm going to assume you are in Canada and will be the one showing the car to prospective buyers. Irrevocably paying you is pretty easy. Cashiers check (one where they cannot stop payment) would be enough here. Wire transfer would also work. If you're extra paranoid, you could also have the buyer follow you to the bank after you ...


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