Hot answers tagged

101

It does not sound like fraud, if your colleague is also told to expense only half the room cost despite originally paying all of it. The company's position seems to be that since two employees benefited equally from the room, its cost should be allocated equally for tracking purposes. Otherwise, it would be potentially unfair (though not illegal) if your ...


32

I can see several problems with your plan: Retirement exists for a reason. There are various things that may prevent you from working when you are older: You may be less able to work, be it because of physical deterioration of your body or mental exhaustion. And that's just the normal process - if you are unlucky, you might become sick and completely ...


26

The air.money website is actually a service of city forex which is registered with FCA/HMR/ICO: FCA AUTHORISED PAYMENTS INSTITUTION# 524412 HMRC MSB Registration #12191402 ICO Registration #Z8811634 Therefore, you should be okay transacting with air.money


19

I don't understand how you can claim half the expenses. Every company I work for requires receipts, invoices, bills or statements of account or similar proof of having made the expense. You don't have a bill from the hotel, ergo you can't claim an expense made on the company's behalf. Your colleague has the bill for the room, if he claims only half of it ...


18

AirMoney seems to deliver money either through the Doddle service, or the Royal Mail. You are given a tracking number for either, so the transfer of money is nothing to worry about. You can contact Doddle if you find that they never send a package or they give you a false tracking number. In regards to claiming compensation if you do get shafted, AirMoney ...


17

Some employers actually support a lifestyle similar to this in form of allowing "sabbaticals". It usually works like this: Over a course of a few years, you either work extra hours or take a paycut. Then you can take an extended period of paid leave, equivalent to the unpaid hours you've worked during those years (usually up to one year). During that paid ...


15

Most cards do not work internationally - "As of April 1, 2012, federal regulations prohibit gift cards from being used outside of the continental United States." See this link for more details: http://www.giftcards.com/gcgf/giftcards-work-internationally


13

You have no grounds for a refund. The flight took off on time, and you chose not to be on board. The fact that the airline could not guarantee ahead of time that the flight would leave on time is not relevant. You can certainly try to dispute the charge with the airline, and it sounds like you have done so. The airline correctly indicates that your dispute ...


11

The very big risk I can see is that you don't plan to retire, ever: Repeat steps 1 and 2 until graveyard time. While that might sound feasible now, at a still fairly young age, can you honestly, really say that you'll still be willing (and even able) to work when you're 70? 80? 90?


10

Is this fraud (i.e. a crime)? It depends. What is the source of the reimbursement? And is your colleague requesting a full reimbursement? If your colleague only requests 1/2 reimbursement, then that is just stupid accounting. But, maybe your companies accounting system is setup to force this lousy solution. If your colleague requests a full reimbursement, ...


10

In such a situation, I'd write on the expense claim something like: Paid for by [Other Employee Name] - receipts for full amount will be attached to [Other Employee Name]'s expenses claim. Please re-imburse directly to them. However the other employee fills in their claim (full amount, or "only their half"), it makes it relatively easy for the accounts ...


9

At the moment, they're allowed to pass on the actual cost of taking a card payment, i.e. typically the charge their card processor makes to them. From January 2018, all surcharges will be banned. http://www.bbc.co.uk/news/business-40648641


8

What you are looking for is travel insurance. I have never heard of this being offered as a credit card perk, but there might be something out there. You can buy this separately, but only you can decide if it is worth the costs. To me, it would seem to only be worth it for something quite expensive, like a cruise that costs thousands of dollars. The more ...


8

This is by no means authoritative tax advice, but my understanding is that typically this is not taxable income. I'm having a hard time finding official information on what happens when you are reimbursed by an organization that is not your employer. But IRS Pub 463 describes travel reimbursements for employees and independent contractors. The general ...


8

If self-employed, only the $2400 could be claimed as business expense, the $300 is a discount on a service so would have no bearing on taxes one way or the other. I'm confident in the claim above, pretty confident too that if you choose to reimburse the employee $2700, only $2400 is expense reimbursement, $300 is pay subject to income tax, they are making ...


8

I can think of a couple of options for you. One would be to write a letter to Acting Garda Commissioner Ó Cualáin, the head of the Garda Síochána. The address of headquarters is An Garda Síochána Headquarters, Phoenix Park, Dublin 8, D08 HN3X. Another option is to contact the Garda Síochána Ombudsman Commission (GSOC), an independent agency that addresses ...


8

First, I assume this is the USA based on tags. What "Travel Rule" are they referring to? We are fulltime RVers and move every 1-3 weeks. I use a commercial mail service in Florida. When I went to change my address with Bank of America, it was flagged as a "commercial address" and it wouldn't be accepted. If I recall correctly, it had something to do with ...


8

The Patriot Act and related legislation (notably the Bank Secrecy Act) places regulations on financial institutions operating in the US. These laws require institutions to be able to help the government solve issues related to money laundering or funding of terrorists. One of the components of these regulations is that institutions must retain records to ...


7

It's called disposable income for a reason. It's what's left after obligations, whatever bills you have, and saving. Saving half one's income is pretty much at one end of the spectrum, very few can afford this. The combination of high savings and low actual spending will enable you to retire very early if you wish. Saving 'only' 15% might actually be out ...


7

In general, there are some exemptions that may apply to your situation, but may not, depending on the exact specifics. In particular the two exemptions that seem relevant: If your wife and son are resident aliens, they may qualify for a resident alien exemption. They would need to be bona fide residents of India, or some other country, for the full tax ...


7

You are missing out on a huge chunk of compound interest Long-term investments enjoy the magic of compound interest, which requires that growth in savings stays invested so it can grow even more. Imagine a situation where you are able to save $1,000 every month. If you save for 3 years at 6.5% interest, you will have nearly $40k before you quit working and ...


6

I don't know of any rule of thumb for travel. In general, what you spend on entertainment should be what you have left after paying for the more mundane things in life -- housing, food, electricity, and so on -- and setting aside reasonable amounts for retirement and emergencies. Entertainment varies widely as a percentage of one's income. Someone making ...


5

The only advantage of changing all your money now to the new currency is that you might get a better conversion rate now than later, so you get more of the new currency and you may pay a lower percentage fee for changing a larger sum of money. However, regarding the better conversion rate - you will not know this except with hindsight. The disadvantage of ...


5

VAT can be loosely compared to the US sales tax. It is added to every purchase, service, and more or less everything that requires payment. But since you'll probably be only shopping - consider it as "something like a sales tax". In Europe, prices are always quoted with the VAT already included. The VAT itself can be up to 25% in some places, so its good to ...


5

EDIT To answer what I think you question is: I do not know of anything other than trip cancellation insurance. And you must be very careful that the policy you purchase for your trip covers the circumstance you described. Essentially, you opted not to take the flight. Not all trip cancellation policies will cover that. How to Find Trip Cancellation ...


5

In my experience they will not work internationally.


5

According to an article on Bankrate.com from 2011, yes, it can hurt your credit: With individual liability accounts, the employee holds all responsibility for the charges, even if the company pays the issuer directly. Joint liability means the company and employee share the responsibility for payments, says Mahendra Gupta, author of the RPMG survey. ...


5

Some countries don't have robust life insurance markets. Some countries have horrible travel fatality statistics. Some countries don't have very good liability law enforcement. Is $2 on top of a train ticket in the US to send your family a $20,000 payment if you die on the train worth it, probably not. The fatality rate is pretty low here, lots of ...


5

No, generally your plan as stated is not reasonable. Unforeseen emergencies mean you are running the risk of finding yourself in a financial black hole by spending your money every few years. What happens if you get injured while travelling in a way that means you can't work and your savings run out getting you back home? You also miss out on the benefits of ...


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